Glacier Bancorp (NASDAQ:GBCI) Given New $45.00 Price Target at DA Davidson

Glacier Bancorp (NASDAQ:GBCI) had its price target trimmed by DA Davidson from $48.00 to $45.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Other analysts also recently issued research reports about the company. Stephens reiterated an equal weight rating and set a $44.00 price target on shares of Glacier Bancorp in a research note on Friday. Raymond James boosted their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research note on Friday, January 5th. StockNews.com upgraded Glacier Bancorp to a sell rating in a research note on Tuesday, March 19th. Finally, Truist Financial lowered their target price on Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $41.20.

Glacier Bancorp Trading Up 2.1 %

Shares of NASDAQ:GBCI opened at $37.70 on Monday. The business’s 50-day moving average is $37.80 and its 200 day moving average is $36.76. Glacier Bancorp has a 1 year low of $26.77 and a 1 year high of $44.06. The firm has a market capitalization of $4.27 billion, a P/E ratio of 21.54 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s quarterly revenue was down 8.2% on a year-over-year basis. On average, research analysts predict that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a $0.33 dividend. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.50%. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Institutional Trading of Glacier Bancorp

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in Glacier Bancorp by 409.4% in the 4th 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. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp in the 1st quarter worth about $25,000. GAMMA Investing LLC acquired a new position in Glacier Bancorp in the 4th quarter worth about $25,000. FNY Investment Advisers LLC acquired a new position in Glacier Bancorp in the 4th quarter worth about $28,000. Finally, Selway Asset Management acquired a new position in Glacier Bancorp in the 3rd quarter worth about $47,000. 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.