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

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

Other equities research analysts have also recently issued research reports about the stock. Raymond James increased their target price 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. StockNews.com upgraded shares of Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. Finally, Stephens restated an equal weight rating and issued a $44.00 price objective on shares of Glacier Bancorp in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $41.20.

Glacier Bancorp Trading Up 2.1 %

Shares of GBCI stock opened at $37.70 on Monday. Glacier Bancorp has a 52-week low of $26.77 and a 52-week high of $44.06. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 21.54 and a beta of 0.80. 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 firm has a fifty day moving average of $37.80 and a 200-day moving average of $36.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS. On average, equities research analysts forecast that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

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

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBCI. Tudor Investment Corp Et Al boosted its stake in shares of Glacier Bancorp by 536.2% in the 3rd quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock valued at $3,193,000 after purchasing an additional 94,422 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Glacier Bancorp in the 3rd quarter valued at about $956,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Glacier Bancorp by 30.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock valued at $29,197,000 after purchasing an additional 239,168 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of Glacier Bancorp in the 3rd quarter valued at about $2,992,000. Finally, Boston Partners boosted its stake in shares of Glacier Bancorp by 37.7% in the 3rd quarter. Boston Partners now owns 172,119 shares of the bank’s stock valued at $4,905,000 after purchasing an additional 47,142 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

About Glacier Bancorp

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.