Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Price Target at $50.00

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.00.

A number of brokerages have weighed in on GBCI. Janney Montgomery Scott raised shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, June 5th. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods lowered their target price on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Finally, Raymond James Financial set a $45.00 price target on Glacier Bancorp in a research note on Monday, April 28th.

Institutional Trading of Glacier Bancorp

A number of institutional investors have recently made changes to their positions in the business. Capital International Investors grew its position in Glacier Bancorp by 5.8% in the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock valued at $105,089,000 after purchasing an additional 115,620 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Glacier Bancorp by 7.7% in the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock valued at $88,587,000 after acquiring an additional 126,316 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Glacier Bancorp by 9.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank’s stock valued at $60,198,000 after acquiring an additional 113,544 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Glacier Bancorp by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock valued at $59,799,000 after acquiring an additional 73,756 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Glacier Bancorp by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock worth $59,988,000 after acquiring an additional 52,566 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

GBCI stock opened at $40.42 on Friday. Glacier Bancorp has a 1-year low of $34.71 and a 1-year high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market cap of $4.59 billion, a PE ratio of 24.20 and a beta of 0.77. The business’s 50-day moving average price is $41.39 and its two-hundred day moving average price is $46.08.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period last year, the firm posted $0.29 earnings per share. As a group, research analysts forecast that Glacier Bancorp will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.27%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

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.