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

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

Several other brokerages have also issued reports on GBCI. DA Davidson decreased their price target on Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a research note on Monday. Raymond James lifted 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. Truist Financial decreased their price target on Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a research note on Monday. Finally, StockNews.com upgraded Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. 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.com, the stock currently has an average rating of Hold and an average price target of $40.40.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $38.38 on Tuesday. The stock’s fifty day moving average price is $37.86 and its two-hundred day moving average price is $36.82. 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 current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $4.35 billion, a PE ratio of 21.93 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the previous year, the business posted $0.55 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, research analysts expect that Glacier Bancorp will post 1.82 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.44%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is currently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Glacier Bancorp by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock worth $510,312,000 after acquiring an additional 80,251 shares during the last quarter. Cooke & Bieler LP lifted 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 worth $133,847,000 after buying an additional 821,199 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Glacier Bancorp by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,314,970 shares of the bank’s stock worth $95,661,000 after buying an additional 96,347 shares during the period. Capital International Investors lifted its holdings in Glacier Bancorp by 45.1% during the 4th quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after buying an additional 566,513 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Glacier Bancorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,478,811 shares of the bank’s stock worth $61,104,000 after buying an additional 65,372 shares during the period. 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.