Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Average Recommendation of “Hold” by Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been given a consensus rating of “Hold” by the five ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $46.20.

Several analysts have commented on the stock. Piper Sandler lifted their price objective 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. Truist Financial raised their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, 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.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $58.38 on Wednesday. The business has a fifty day moving average of $50.33 and a 200 day moving average of $43.98. Glacier Bancorp has a 1 year low of $32.00 and a 1 year high of $60.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 36.04 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to analysts’ expectations 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 last year, the business posted $0.47 earnings per share. As a group, research analysts expect that Glacier Bancorp will post 1.7 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.26%. Glacier Bancorp’s payout ratio is 81.48%.

Institutional Investors Weigh In On Glacier Bancorp

Institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co raised its holdings in Glacier Bancorp by 21.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after purchasing an additional 13,655 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Glacier Bancorp by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 81,150 shares of the bank’s stock worth $3,269,000 after buying an additional 4,069 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Glacier Bancorp during the 1st quarter valued at approximately $477,000. Cetera Advisors LLC lifted its position in shares of Glacier Bancorp by 34.9% during the 1st quarter. Cetera Advisors LLC now owns 12,596 shares of the bank’s stock valued at $507,000 after buying an additional 3,256 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in Glacier Bancorp by 34.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 485,574 shares of the bank’s stock valued at $19,559,000 after acquiring an additional 124,891 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Company Profile

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.