Glacier Bancorp (NASDAQ:GBCI) Price Target Cut to $41.00 by Analysts at SunTrust Banks

Glacier Bancorp (NASDAQ:GBCI) had its target price lowered by SunTrust Banks from $42.00 to $41.00 in a research report sent to investors on Thursday morning, AnalystRatings.com reports. The brokerage currently has a buy rating on the bank’s stock.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Glacier Bancorp from a hold rating to a sell rating in a research report on Thursday. BidaskClub downgraded Glacier Bancorp from a buy rating to a hold rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $42.33.

Glacier Bancorp stock traded up $0.65 during mid-day trading on Thursday, hitting $40.22. 250,005 shares of the company’s stock were exchanged, compared to its average volume of 300,647. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.45 billion, a P/E ratio of 18.53 and a beta of 1.17. Glacier Bancorp has a 1-year low of $36.84 and a 1-year high of $47.67. The stock has a 50 day moving average of $40.02 and a two-hundred day moving average of $40.44.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 18th. The bank reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm had revenue of $151.13 million for the quarter, compared to the consensus estimate of $151.63 million. Glacier Bancorp had a net margin of 31.97% and a return on equity of 13.02%. As a group, research analysts predict that Glacier Bancorp will post 2.4 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th will be given a $0.29 dividend. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, October 7th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 49.77%.

Several large investors have recently modified their holdings of GBCI. Benjamin Edwards Inc. grew its position in shares of Glacier Bancorp by 27.7% in the second quarter. Benjamin Edwards Inc. now owns 2,602 shares of the bank’s stock valued at $106,000 after purchasing an additional 565 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Glacier Bancorp in the second quarter valued at about $120,000. TRUE Private Wealth Advisors acquired a new stake in shares of Glacier Bancorp in the second quarter valued at about $202,000. Sawtooth Solutions LLC acquired a new stake in shares of Glacier Bancorp in the first quarter valued at about $232,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Glacier Bancorp by 4.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the bank’s stock valued at $265,000 after purchasing an additional 301 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the 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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

Further Reading: Holder of Record

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