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

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have earned a consensus rating of “Hold” from the five analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $46.20.

A number of brokerages have issued reports on GBCI. Raymond James raised their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler lifted their target price 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 boosted their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th.

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors have recently made changes to their positions in GBCI. Allspring Global Investments Holdings LLC acquired a new position in shares of Glacier Bancorp in the 1st quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in Glacier Bancorp in the second quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in shares of Glacier Bancorp during the first quarter worth $50,000. GAMMA Investing LLC grew its stake in shares of Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after buying an additional 772 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after buying an additional 927 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

GBCI opened at $56.48 on Friday. Glacier Bancorp has a twelve month low of $30.18 and a twelve month high of $58.50. The firm has a market capitalization of $6.40 billion, a PE ratio of 34.86 and a beta of 0.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $47.25 and its 200 day moving average price is $42.28.

Glacier Bancorp (NASDAQ:GBCI) last posted 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 return on equity of 5.84% and a net margin of 14.69%. The business had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. During the same period in the prior year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that Glacier Bancorp will post 1.67 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were given a $0.33 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.34%. Glacier Bancorp’s payout ratio is currently 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.