Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has earned an average rating of “Moderate Buy” from the four ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.40.

A number of brokerages have commented on GBCI. Stephens reduced their price target on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Truist Financial lowered their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, DA Davidson decreased 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, April 22nd.

Glacier Bancorp Trading Down 2.3 %

Shares of NASDAQ:GBCI opened at $36.74 on Friday. The company has a market cap of $4.17 billion, a P/E ratio of 20.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. Glacier Bancorp has a 1 year low of $26.83 and a 1 year high of $44.06. The stock’s fifty day moving average price is $37.11 and its 200-day moving average price is $38.25.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same period in the prior year, the company posted $0.55 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. Sell-side analysts expect that Glacier Bancorp will post 1.64 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.59%. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GBCI. Vanguard Group Inc. grew its stake in Glacier Bancorp by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock worth $510,312,000 after buying an additional 80,251 shares during the last quarter. Cooke & Bieler LP lifted its position in Glacier Bancorp by 34.0% during the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after acquiring an additional 821,199 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Glacier Bancorp by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,314,970 shares of the bank’s stock valued at $95,661,000 after buying an additional 96,347 shares during the period. Capital Research Global Investors lifted its holdings in shares of Glacier Bancorp by 60.3% in the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after buying an additional 724,089 shares during the period. Finally, Capital International Investors raised its holdings in Glacier Bancorp by 45.1% in the 4th quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after purchasing an additional 566,513 shares during the period. 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.