Glacier Bancorp’s (GBCI) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reissued their buy rating on shares of Glacier Bancorp (NYSE:GBCI) in a research note published on Monday,Benzinga reports. DA Davidson currently has a $58.00 target price on the stock.

Several other research analysts have also recently issued reports on GBCI. Weiss Ratings reiterated a “hold (c+)” rating on shares of Glacier Bancorp in a research report on Monday, July 20th. Stephens boosted their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler upped their price target on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $49.10 on Monday. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 20.12 and a beta of 0.72. The stock has a 50 day simple moving average of $49.75 and a 200-day simple moving average of $48.36. Glacier Bancorp has a 12-month low of $39.90 and a 12-month high of $54.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06.

Glacier Bancorp (NYSE:GBCI) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The business had revenue of $320.94 million during the quarter. During the same period in the prior year, the business earned $0.57 earnings per share. On average, equities analysts forecast that Glacier Bancorp will post 3.17 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp’s dividend payout ratio is currently 54.10%.

Hedge Funds Weigh In On Glacier Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC grew its holdings in Glacier Bancorp by 122.5% in the first quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Glacier Bancorp during the 4th quarter worth $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after buying an additional 490 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Glacier Bancorp by 41.2% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after buying an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Glacier Bancorp in the 4th quarter valued at about $35,000. 80.17% of the stock is owned by institutional investors and hedge funds.

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.