Glacier Bancorp (NASDAQ:GBCI) Price Target Cut to $40.00 by Analysts at Truist Financial

Glacier Bancorp (NASDAQ:GBCI) had its target price cut by Truist Financial from $42.00 to $40.00 in a research note released on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other analysts have also issued reports on the stock. Stephens restated an equal weight rating and issued a $44.00 price objective on shares of Glacier Bancorp in a report on Friday, April 19th. Raymond James boosted their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a report on Friday, January 5th. Finally, StockNews.com upgraded shares of Glacier Bancorp to a sell rating in a report on Tuesday, March 19th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $40.40.

Glacier Bancorp Trading Down 1.2 %

Shares of GBCI stock opened at $37.93 on Monday. The company’s 50-day moving average price is $37.91 and its 200-day moving average price is $36.83. 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 stock has a market cap of $4.30 billion, a price-to-earnings ratio of 21.67 and a beta of 0.80. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The firm had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. As a group, equities analysts predict that Glacier Bancorp will post 1.73 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The firm also recently declared 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 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 3.48%. Glacier Bancorp’s dividend payout ratio is 75.43%.

Institutional Trading of Glacier Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP increased its stake in Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter worth approximately $25,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Glacier Bancorp during the first quarter worth approximately $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter worth approximately $28,000. Finally, Selway Asset Management purchased a new stake in shares of Glacier Bancorp during the third quarter worth approximately $47,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

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.