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

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been given an average recommendation of “Hold” by the five research firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $46.20.

GBCI has been the topic of several recent analyst reports. Raymond James upped their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler upped their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Finally, Truist Financial lifted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th.

Glacier Bancorp Trading Down 0.9 %

NASDAQ:GBCI opened at $57.89 on Wednesday. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 35.73 and a beta of 0.77. Glacier Bancorp has a one year low of $33.23 and a one year high of $60.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day simple moving average is $51.04 and its 200 day simple moving average is $44.39.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same period in the prior year, the company posted $0.47 EPS. As a group, sell-side analysts predict that Glacier Bancorp will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be given a $0.33 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.28%. Glacier Bancorp’s payout ratio is currently 81.48%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its holdings in Glacier Bancorp by 21.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after acquiring an additional 13,655 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Glacier Bancorp during the 1st quarter valued at approximately $477,000. Blue Trust Inc. boosted its position in Glacier Bancorp by 20,598.6% during the 2nd quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock valued at $600,000 after purchasing an additional 14,831 shares during the period. LMR Partners LLP bought a new position in Glacier Bancorp during the 3rd quarter worth $543,000. Finally, &PARTNERS increased its position in Glacier Bancorp by 134.1% in the second quarter. &PARTNERS now owns 57,563 shares of the bank’s stock worth $2,148,000 after buying an additional 32,969 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

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.