Glacier Bancorp (NASDAQ:GBCI) PT Lowered to $40.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective trimmed by Stephens from $44.00 to $40.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

A number of other brokerages also recently issued reports on GBCI. DA Davidson reduced their price target on Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a research report on Monday, April 22nd. StockNews.com raised Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. Truist Financial cut their target price on Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James upped their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of Hold and a consensus target price of $40.40.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $37.14 on Tuesday. The business’s fifty day simple moving average is $37.88 and its 200-day simple moving average is $36.88. The company has a market cap of $4.21 billion, a PE ratio of 21.22 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 has a 12-month low of $26.77 and a 12-month high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Analysts expect that Glacier Bancorp will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.33 per share. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 purchasing an additional 80,251 shares during the period. Cooke & Bieler LP boosted its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Glacier Bancorp by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,314,970 shares of the bank’s stock worth $95,661,000 after acquiring an additional 96,347 shares in the last quarter. Capital International Investors boosted its stake in shares of Glacier Bancorp by 45.1% during the 4th quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after acquiring an additional 566,513 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Glacier Bancorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,478,811 shares of the bank’s stock worth $61,104,000 after acquiring an additional 65,372 shares in the last quarter. 80.17% of the stock is 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.