Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $40.40.

Several research firms recently issued reports on GBCI. Stephens decreased their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. DA Davidson decreased their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Truist Financial lowered their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 22nd.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $39.28 on Friday. Glacier Bancorp has a fifty-two week low of $26.83 and a fifty-two week high of $44.06. The stock’s 50-day moving average is $38.03 and its two-hundred day moving average is $37.71. The firm has a market cap of $4.45 billion, a P/E ratio of 22.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. On average, analysts anticipate that Glacier Bancorp will post 1.64 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.36%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s payout ratio is currently 75.43%.

Institutional Trading of Glacier Bancorp

Several institutional investors have recently modified their holdings of GBCI. Vanguard Group Inc. boosted its stake in Glacier Bancorp by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock worth $510,312,000 after buying an additional 80,251 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of Glacier Bancorp by 34.0% during the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock valued at $133,847,000 after acquiring an additional 821,199 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Glacier Bancorp by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,970 shares of the bank’s stock valued at $95,661,000 after acquiring an additional 96,347 shares during the period. Capital Research Global Investors increased its stake in Glacier Bancorp by 60.3% in the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after acquiring an additional 724,089 shares during the period. Finally, Capital International Investors raised its position in Glacier Bancorp by 45.1% in the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after purchasing an additional 566,513 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.