Glacier Bancorp’s (GBCI) Equal Weight Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of Glacier Bancorp (NASDAQ:GBCI) in a research note published on Friday morning, Benzinga reports. They currently have a $44.00 price objective on the bank’s stock.

Several other equities analysts have also commented on GBCI. StockNews.com raised Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. Truist Financial reduced their price target on Glacier Bancorp from $45.00 to $42.00 and set a hold rating on the stock in a research report on Monday, April 1st. Finally, Raymond James boosted their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an outperform rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $40.40.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $36.94 on Friday. The firm has a market capitalization of $4.19 billion, a P/E ratio of 21.11 and a beta of 0.80. Glacier Bancorp has a 1-year low of $26.77 and a 1-year high of $44.06. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day simple moving average is $37.80 and its 200-day simple moving average is $36.70.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The firm had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.61%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities analysts predict that Glacier Bancorp will post 1.82 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.57%. Glacier Bancorp’s payout ratio is currently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of GBCI. Allworth Financial LP increased its holdings in Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Glacier Bancorp in the 1st quarter valued at approximately $25,000. Barclays PLC increased its holdings in shares of Glacier Bancorp by 1,498.3% in the 3rd quarter. Barclays PLC now owns 943 shares of the bank’s stock valued at $27,000 after acquiring an additional 884 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter valued at approximately $28,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

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.