Glacier Bancorp (NASDAQ:GBCI) Given New $45.00 Price Target at DA Davidson

Glacier Bancorp (NASDAQ:GBCI) had its price objective decreased by DA Davidson from $48.00 to $45.00 in a report issued on Monday, Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock. DA Davidson also issued estimates for Glacier Bancorp’s Q2 2024 earnings at $0.41 EPS, FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

Several other research firms have also weighed in on GBCI. Raymond James lifted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the stock an outperform rating in a report on Friday, January 5th. StockNews.com upgraded Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. Stephens restated an equal weight rating and set a $44.00 target price on shares of Glacier Bancorp in a report on Friday, April 19th. Finally, Truist Financial reduced their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a hold rating for the company in a report on Monday. 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.com, Glacier Bancorp has a consensus rating of Hold and an average target price of $40.40.

Glacier Bancorp Stock Down 1.4 %

NASDAQ:GBCI opened at $37.40 on Monday. Glacier Bancorp has a 12-month low of $26.77 and a 12-month high of $44.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.24 billion, a P/E ratio of 21.37 and a beta of 0.80. The stock’s fifty day simple moving average is $37.89 and its 200-day simple moving average is $36.84.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The company had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities research analysts expect that Glacier Bancorp will post 1.73 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. Investors of record on Tuesday, April 9th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, April 8th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a yield of 3.53%. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after buying an additional 479 shares in the last quarter. GAMMA Investing LLC bought a new stake in Glacier Bancorp during the 4th quarter worth about $25,000. Allspring Global Investments Holdings LLC bought a new stake in Glacier Bancorp during the 1st quarter worth about $25,000. FNY Investment Advisers LLC bought a new stake in Glacier Bancorp during the 4th quarter worth about $28,000. Finally, Selway Asset Management bought a new stake in Glacier Bancorp during the 3rd quarter worth about $47,000. 80.17% of the stock is 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.