Glacier Bancorp (NASDAQ:GBCI) PT Lowered to $40.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective trimmed by Stephens from $44.00 to $40.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

Several other equities analysts have also commented on GBCI. StockNews.com raised shares of Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. Truist Financial dropped their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a hold rating for the company in a research report on Monday, April 22nd. DA Davidson dropped their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a buy rating for the company in a research report on Monday, April 22nd. Finally, Raymond James increased their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an outperform rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Glacier Bancorp has an average rating of Hold and a consensus target price of $40.40.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $37.14 on Tuesday. Glacier Bancorp has a one year low of $26.77 and a one year high of $44.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The company has a 50 day moving average price of $37.88 and a 200 day moving average price of $36.88. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 21.22 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Wednesday, April 24th. 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 6.51% and a net margin of 16.40%. The company had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period last year, the company posted $0.55 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Sell-side analysts anticipate that Glacier Bancorp will post 1.68 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.55%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

Several large investors have recently made changes to their positions in GBCI. Cooke & Bieler LP grew its holdings in Glacier Bancorp by 34.0% during the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock valued at $133,847,000 after purchasing an additional 821,199 shares in the last quarter. Norges Bank purchased a new stake in Glacier Bancorp during the 4th quarter worth $32,617,000. Envestnet Asset Management Inc. increased its stake in Glacier Bancorp by 361.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock worth $25,724,000 after buying an additional 706,833 shares during the period. Capital Research Global Investors increased its stake in Glacier Bancorp by 124.7% during the 4th quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank’s stock worth $49,622,000 after buying an additional 666,478 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Glacier Bancorp by 5,065.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 586,360 shares of the bank’s stock worth $24,228,000 after buying an additional 575,008 shares during the period. Institutional investors and hedge funds 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.