Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Average Recommendation of “Hold” by Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $48.83.

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Raymond James raised their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Glacier Bancorp Stock Up 1.8 %

GBCI opened at $50.45 on Friday. The stock’s fifty day simple moving average is $53.90 and its 200 day simple moving average is $46.13. Glacier Bancorp has a 1-year low of $34.35 and a 1-year high of $60.67. The stock has a market cap of $5.72 billion, a PE ratio of 31.14 and a beta of 0.79. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts expect that Glacier Bancorp will post 1.7 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 10th were paid a $0.33 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.62%. Glacier Bancorp’s dividend payout ratio (DPR) is 81.48%.

Hedge Funds Weigh In On Glacier Bancorp

Institutional investors have recently modified their holdings of the business. Barclays PLC increased its position in Glacier Bancorp by 65.6% during the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank’s stock worth $11,321,000 after purchasing an additional 98,158 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Glacier Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after buying an additional 41,160 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Glacier Bancorp during the third quarter worth $543,000. BNP Paribas Financial Markets lifted its stake in shares of Glacier Bancorp by 75.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank’s stock valued at $2,111,000 after acquiring an additional 19,814 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Glacier Bancorp by 30.9% during the 3rd quarter. Natixis Advisors LLC now owns 331,121 shares of the bank’s stock valued at $15,132,000 after acquiring an additional 78,107 shares in the last quarter. 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.