Glacier Bancorp (NASDAQ:GBCI) Receives Equal Weight Rating from Stephens

Stephens reaffirmed their equal weight rating on shares of Glacier Bancorp (NASDAQ:GBCI) in a research report sent to investors on Friday morning, Benzinga reports. Stephens currently has a $44.00 price objective on the bank’s stock.

A number of other research firms also recently issued reports on GBCI. Raymond James raised their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an outperform rating in a research note on Friday, January 5th. Truist Financial dropped their price target on Glacier Bancorp from $45.00 to $42.00 and set a hold rating on the stock in a research note on Monday, April 1st. Finally, StockNews.com upgraded Glacier Bancorp to a sell rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Glacier Bancorp currently has a consensus rating of Hold and an average target price of $40.40.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $36.95 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a fifty-two week low of $26.77 and a fifty-two week high of $44.06. The firm has a market capitalization of $4.19 billion, a PE ratio of 20.06 and a beta of 0.80. The stock’s 50-day simple moving average is $37.80 and its 200-day simple moving average is $36.59.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a return on equity of 6.61% and a net margin of 16.40%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. As a group, equities research analysts forecast that Glacier Bancorp will post 1.82 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a $0.33 dividend. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its stake in shares of Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after buying an additional 479 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Glacier Bancorp in the first quarter valued at approximately $25,000. Barclays PLC boosted its stake in shares of Glacier Bancorp by 1,498.3% in the third quarter. Barclays PLC now owns 943 shares of the bank’s stock valued at $27,000 after buying an additional 884 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at approximately $28,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

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.