Keefe, Bruyette & Woods Cuts Glacier Bancorp (NASDAQ:GBCI) Price Target to $50.00

Glacier Bancorp (NASDAQ:GBCI) had its price target cut by Keefe, Bruyette & Woods from $55.00 to $50.00 in a report published on Monday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other analysts have also weighed in on GBCI. Raymond James reaffirmed an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Piper Sandler decreased their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and a consensus price target of $50.50.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $40.80 on Monday. The company’s 50 day moving average is $43.11 and its 200-day moving average is $49.01. Glacier Bancorp has a 12-month low of $34.48 and a 12-month high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market cap of $4.63 billion, a P/E ratio of 24.43 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the firm posted $0.29 EPS. Sell-side analysts predict that Glacier Bancorp will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 70.97%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Signaturefd LLC increased its holdings in shares of Glacier Bancorp by 5.3% in the fourth quarter. Signaturefd LLC now owns 3,978 shares of the bank’s stock worth $200,000 after buying an additional 201 shares during the period. Piedmont Capital Management LLC increased its holdings in shares of Glacier Bancorp by 4.5% in the fourth quarter. Piedmont Capital Management LLC now owns 5,256 shares of the bank’s stock worth $262,000 after buying an additional 224 shares during the period. Arizona State Retirement System increased its holdings in shares of Glacier Bancorp by 0.8% in the fourth quarter. Arizona State Retirement System now owns 32,909 shares of the bank’s stock worth $1,653,000 after buying an additional 259 shares during the period. Mariner LLC increased its holdings in shares of Glacier Bancorp by 2.4% in the fourth quarter. Mariner LLC now owns 12,430 shares of the bank’s stock worth $624,000 after buying an additional 292 shares during the period. Finally, State of Michigan Retirement System increased its holdings in shares of Glacier Bancorp by 1.1% in the first quarter. State of Michigan Retirement System now owns 27,136 shares of the bank’s stock worth $1,200,000 after buying an additional 300 shares during the period. 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.