Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Average Rating of “Hold” by Analysts

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been assigned an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $46.20.

A number of research analysts have issued reports on the stock. Raymond James upped their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler increased their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Truist Financial increased their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of GBCI. Capital Research Global Investors lifted its stake in shares of Glacier Bancorp by 60.3% in the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after buying an additional 724,089 shares in the last quarter. Clifford Capital Partners LLC increased its position in Glacier Bancorp by 2,389.9% during the first quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock worth $12,088,000 after purchasing an additional 288,056 shares during the last quarter. Millennium Management LLC increased its position in Glacier Bancorp by 131.9% during the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after purchasing an additional 271,398 shares during the last quarter. Sei Investments Co. increased its position in Glacier Bancorp by 123.9% during the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after purchasing an additional 183,757 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its position in Glacier Bancorp by 145.0% during the second quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after purchasing an additional 182,600 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Down 1.0 %

Shares of Glacier Bancorp stock opened at $51.63 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp has a 12-month low of $30.18 and a 12-month high of $53.93. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 31.87 and a beta of 0.80. The firm’s 50 day simple moving average is $46.45 and its two-hundred day simple moving average is $41.63.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. During the same quarter in the prior year, the business posted $0.47 EPS. Analysts predict that Glacier Bancorp will post 1.65 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s payout ratio is 81.48%.

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.