Analysts Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Price Target at $37.80

Glacier Bancorp, Inc. (NASDAQ:GBCI) has earned a consensus rating of “Moderate Buy” from the four ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $41.20.

GBCI has been the subject of several research reports. Stephens restated an “equal weight” rating and set a $44.00 price objective on shares of Glacier Bancorp in a research report on Friday. DA Davidson reduced their price target on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial lowered their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday. Raymond James upped their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th.

Glacier Bancorp Stock Up 2.1 %

GBCI opened at $37.70 on Tuesday. The stock’s fifty day simple moving average is $37.80 and its 200 day simple moving average is $36.76. Glacier Bancorp has a 1-year low of $26.77 and a 1-year high of $44.06. The stock has a market cap of $4.27 billion, a PE ratio of 21.54 and a beta of 0.80. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. Glacier Bancorp’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, research analysts expect that Glacier Bancorp will post 1.82 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s dividend payout ratio is 75.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp Et Al grew its stake in Glacier Bancorp by 536.2% during the third quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock worth $3,193,000 after buying an additional 94,422 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Glacier Bancorp during the 3rd quarter worth approximately $956,000. Massachusetts Financial Services Co. MA increased its stake in Glacier Bancorp by 30.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock valued at $29,197,000 after acquiring an additional 239,168 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Glacier Bancorp during the third quarter valued at approximately $2,992,000. Finally, Boston Partners lifted its stake in Glacier Bancorp by 37.7% during the third quarter. Boston Partners now owns 172,119 shares of the bank’s stock worth $4,905,000 after purchasing an additional 47,142 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.