Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives $37.80 Average PT from Analysts

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been assigned an average recommendation of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $41.20.

GBCI has been the subject of several research analyst reports. Truist Financial cut their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Monday. Raymond James lifted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Stephens reissued an “equal weight” rating and set a $44.00 price objective on shares of Glacier Bancorp in a report on Friday. Finally, DA Davidson cut their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $37.70 on Tuesday. Glacier Bancorp has a 1 year low of $26.77 and a 1 year high of $44.06. The company has a fifty day simple moving average of $37.80 and a 200 day simple moving average of $36.76. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.27 billion, a P/E ratio of 21.54 and a beta of 0.80.

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

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.50%. This is an increase 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%.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp Et Al raised its stake in Glacier Bancorp by 536.2% during the third quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock worth $3,193,000 after acquiring an additional 94,422 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Glacier Bancorp during the 3rd quarter worth about $956,000. Massachusetts Financial Services Co. MA increased its position in shares of Glacier Bancorp by 30.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock worth $29,197,000 after purchasing an additional 239,168 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Glacier Bancorp during the 3rd quarter valued at about $2,992,000. Finally, Boston Partners boosted its position in Glacier Bancorp by 37.7% in the third quarter. Boston Partners now owns 172,119 shares of the bank’s stock valued at $4,905,000 after buying an additional 47,142 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

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.