Glacier Bancorp, Inc. (NYSE:GBCI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Glacier Bancorp, Inc. (NYSE:GBCI) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $55.6667.

A number of equities research analysts recently commented on the stock. Brean Capital lowered shares of Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Piper Sandler set a $59.00 price objective on shares of Glacier Bancorp and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Janney Montgomery Scott started coverage on shares of Glacier Bancorp in a research note on Tuesday, February 10th. They set a “neutral” rating and a $55.00 price objective for the company. DA Davidson increased their target price on shares of Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Glacier Bancorp in a report on Monday, December 29th.

Institutional Trading of Glacier Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Glacier Bancorp during the 4th quarter valued at $67,582,000. Vanguard Group Inc. lifted its position in shares of Glacier Bancorp by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after purchasing an additional 870,335 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Glacier Bancorp in the 2nd quarter worth about $24,362,000. State Street Corp boosted its stake in shares of Glacier Bancorp by 9.9% during the 4th quarter. State Street Corp now owns 6,178,363 shares of the company’s stock valued at $272,157,000 after purchasing an additional 557,873 shares in the last quarter. Finally, Jain Global LLC boosted its stake in shares of Glacier Bancorp by 289.5% during the 4th quarter. Jain Global LLC now owns 750,098 shares of the company’s stock valued at $33,042,000 after purchasing an additional 557,529 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

NYSE GBCI opened at $45.12 on Thursday. The company has a 50-day simple moving average of $47.47 and a two-hundred day simple moving average of $45.87. Glacier Bancorp has a 12-month low of $36.76 and a 12-month high of $53.99. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 22.67 and a beta of 0.73. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.16.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 6.68% and a net margin of 16.63%.During the same period in the previous year, the company posted $0.54 earnings per share.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, April 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. Glacier Bancorp’s payout ratio is 66.33%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.