Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $50.50.

Several equities analysts have weighed in on GBCI shares. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler lowered their target price on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Finally, Raymond James set a $45.00 price target on Glacier Bancorp in a research note on Monday, April 28th.

Institutional Investors Weigh In On Glacier Bancorp

Several large investors have recently made changes to their positions in the company. Capital International Investors grew its stake in shares of Glacier Bancorp by 5.8% in the 4th quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock valued at $105,089,000 after buying an additional 115,620 shares in the last quarter. Northern Trust Corp lifted its holdings in Glacier Bancorp by 7.7% in the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock worth $88,587,000 after purchasing an additional 126,316 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Glacier Bancorp by 9.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank’s stock worth $60,198,000 after purchasing an additional 113,544 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Glacier Bancorp by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock worth $59,799,000 after purchasing an additional 73,756 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Glacier Bancorp by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock worth $59,988,000 after purchasing an additional 52,566 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 0.3%

Shares of GBCI opened at $42.38 on Wednesday. The business’s 50-day moving average price is $41.97 and its 200 day moving average price is $48.34. The stock has a market capitalization of $4.81 billion, a P/E ratio of 25.38 and a beta of 0.79. Glacier Bancorp has a 1-year low of $34.48 and a 1-year high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter in the previous year, the firm posted $0.29 EPS. Analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were paid a $0.33 dividend. The ex-dividend date was Tuesday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.11%. Glacier Bancorp’s payout ratio is 70.97%.

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.