Glacier Bancorp’s (GBCI) “Equal Weight” Rating Reiterated at Stephens

Stephens restated their equal weight rating on shares of Glacier Bancorp (NASDAQ:GBCI) in a research report report published on Friday morning, Benzinga reports. They currently have a $44.00 target price on the bank’s stock.

Several other research firms also recently weighed in on GBCI. StockNews.com upgraded Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. Raymond James raised their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a report on Friday, January 5th. Finally, Truist Financial decreased their price target on shares of Glacier Bancorp from $45.00 to $42.00 and set a hold rating on the stock in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Glacier Bancorp presently has a consensus rating of Hold and an average price target of $41.20.

Glacier Bancorp Stock Performance

GBCI opened at $37.70 on Friday. 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 has a 12-month low of $26.77 and a 12-month high of $44.06. The firm has a 50 day moving average of $37.80 and a two-hundred day moving average of $36.76. The firm has a market capitalization of $4.27 billion, a PE ratio of 21.54 and a beta of 0.80.

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

Glacier Bancorp Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AE Wealth Management LLC boosted its holdings in Glacier Bancorp by 19.4% during the 3rd quarter. AE Wealth Management LLC now owns 12,628 shares of the bank’s stock valued at $360,000 after acquiring an additional 2,052 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Glacier Bancorp by 83.6% in the 3rd quarter. SG Americas Securities LLC now owns 79,023 shares of the bank’s stock valued at $2,252,000 after purchasing an additional 35,984 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Glacier Bancorp by 6.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 41,876 shares of the bank’s stock worth $1,193,000 after purchasing an additional 2,415 shares during the last quarter. Raymond James & Associates raised its stake in shares of Glacier Bancorp by 3.1% during the 3rd quarter. Raymond James & Associates now owns 991,073 shares of the bank’s stock worth $28,246,000 after buying an additional 29,482 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Glacier Bancorp by 15.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 53,456 shares of the bank’s stock worth $1,524,000 after buying an additional 7,150 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Company Profile

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.