Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $51.50.

A number of research firms have issued reports on GBCI. Piper Sandler reduced their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Stephens upgraded shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Raymond James restated an “outperform” rating and set a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th.

Glacier Bancorp Trading Down 5.3 %

Shares of Glacier Bancorp stock opened at $38.47 on Tuesday. The business has a 50 day moving average price of $47.09 and a 200 day moving average price of $49.83. The company has a market capitalization of $4.37 billion, a P/E ratio of 23.04 and a beta of 0.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a 1 year low of $34.35 and a 1 year high of $60.67.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 8th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, April 8th. Glacier Bancorp’s payout ratio is currently 79.04%.

Institutional Investors Weigh In On Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Wood Tarver Financial Group LLC acquired a new position in Glacier Bancorp in the 4th quarter worth $33,000. Mather Group LLC. lifted its stake in shares of Glacier Bancorp by 97.6% in the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock worth $37,000 after acquiring an additional 362 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in Glacier Bancorp in the fourth quarter valued at about $63,000. Bridge Generations Wealth Management LLC acquired a new stake in Glacier Bancorp during the 4th quarter valued at approximately $70,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Glacier Bancorp by 17.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock valued at $144,000 after purchasing an additional 431 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

About Glacier Bancorp

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.