Stephens Reiterates Equal Weight Rating for Glacier Bancorp (NASDAQ:GBCI)

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

Other research analysts have also recently issued research reports about the company. Truist Financial cut their price target on Glacier Bancorp from $45.00 to $42.00 and set a hold rating on the stock in a research note on Monday, April 1st. StockNews.com upgraded Glacier Bancorp to a sell rating in a research note on Tuesday, March 19th. Finally, Raymond James upped their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $40.40.

Glacier Bancorp Trading Up 5.3 %

NASDAQ:GBCI opened at $36.95 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a one year low of $26.77 and a one year high of $44.06. The business’s 50-day simple moving average is $37.80 and its 200 day simple moving average is $36.59. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 20.06 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.61% and a net margin of 16.40%. The business had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.57%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Institutional Trading of Glacier Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors raised its position in shares of Glacier Bancorp by 3.3% during the 4th quarter. Captrust Financial Advisors now owns 8,427 shares of the bank’s stock worth $416,000 after purchasing an additional 269 shares during the period. Federated Hermes Inc. raised its position in shares of Glacier Bancorp by 3.2% during the 4th quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock worth $396,000 after purchasing an additional 300 shares during the period. US Bancorp DE raised its position in shares of Glacier Bancorp by 2.9% during the 1st quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock worth $559,000 after purchasing an additional 308 shares during the period. Xponance Inc. raised its position in shares of Glacier Bancorp by 2.0% during the 4th quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock worth $676,000 after purchasing an additional 326 shares during the period. Finally, CWM LLC raised its position in shares of Glacier Bancorp by 0.9% during the 1st quarter. CWM LLC now owns 35,864 shares of the bank’s stock worth $1,445,000 after purchasing an additional 331 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.