Truist Financial Trims Glacier Bancorp (NASDAQ:GBCI) Target Price to $40.00

Glacier Bancorp (NASDAQ:GBCI) had its price target trimmed by Truist Financial from $42.00 to $40.00 in a report published on Monday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Several other brokerages also recently weighed in on GBCI. Stephens reissued an equal weight rating and issued a $44.00 target price on shares of Glacier Bancorp in a research note on Friday, April 19th. StockNews.com raised shares of Glacier Bancorp to a sell rating in a research note on Tuesday, March 19th. Finally, Raymond James increased their target price on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $40.40.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $37.93 on Monday. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 21.67 and a beta of 0.80. The firm’s fifty day moving average is $37.91 and its 200 day moving average is $36.83. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. Glacier Bancorp has a 52-week low of $26.77 and a 52-week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly 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). The business had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. Glacier Bancorp’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. Sell-side analysts forecast that Glacier Bancorp will post 1.73 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.48%. The ex-dividend date was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al increased its stake in Glacier Bancorp by 536.2% in the 3rd quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock worth $3,193,000 after buying an additional 94,422 shares during the period. Aigen Investment Management LP bought a new position in Glacier Bancorp during the 3rd quarter worth about $956,000. Massachusetts Financial Services Co. MA grew its holdings in 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 acquiring an additional 239,168 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Glacier Bancorp during the 3rd quarter worth about $2,992,000. Finally, Boston Partners grew its holdings in Glacier Bancorp by 37.7% during the 3rd quarter. Boston Partners now owns 172,119 shares of the bank’s stock worth $4,905,000 after acquiring an additional 47,142 shares in the last quarter. Hedge funds and other 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.