Glacier Bancorp, Inc. (NYSE:GBCI) Stock Has Consensus Price Target of $55.17 According to Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Glacier Bancorp, with five buy, two hold and one sell rating; the average 12-month price target is $55.17 versus the stock’s reported $44.31 opening price.
• Institutional investors own 80.17% of the company, with BlackRock acquiring an approximately $913.8 million stake. Chairman Craig Langel also purchased 2,250 shares worth about $105,840.
• Glacier Bancorp raised its quarterly dividend to $0.35 per share from $0.33, equivalent to $1.40 annually and a 3.2% yield; the company also matched quarterly earnings expectations at $0.76 per share.

Glacier Bancorp, Inc. (NYSE:GBCI - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $55.17.

GBCI has been the subject of several research reports. DA Davidson reissued a "buy" rating and set a $58.00 price objective on shares of Glacier Bancorp in a research report on Monday, July 27th. Weiss Ratings raised shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th.

Insider Activity

In other news, Chairman Craig Langel purchased 2,250 shares of the company's stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $47.04 per share, with a total value of $105,840.00. Following the purchase, the chairman directly owned 98,684 shares of the company's stock, valued at $4,642,095.36. This trade represents a 2.33% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Glacier Bancorp in the second quarter valued at approximately $913,766,000. Norges Bank bought a new stake in shares of Glacier Bancorp in the fourth quarter worth $67,582,000. Bank of America Corp DE acquired a new position in Glacier Bancorp during the second quarter worth $62,719,000. Madison Asset Management LLC acquired a new position in Glacier Bancorp during the second quarter worth $59,048,000. Finally, Bank of New York Mellon Corp bought a new position in Glacier Bancorp in the second quarter valued at $55,775,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Price Performance

Shares of GBCI opened at $44.31 on Friday. The stock has a 50 day simple moving average of $47.85 and a 200 day simple moving average of $47.87. Glacier Bancorp has a 52-week low of $39.90 and a 52-week high of $54.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $5.77 billion, a PE ratio of 18.16 and a beta of 0.72.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The firm had revenue of $320.94 million for the quarter. During the same quarter last year, the business posted $0.57 earnings per share. Sell-side analysts predict that Glacier Bancorp will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, October 6th will be issued a dividend of $0.35 per share. This is a boost from Glacier Bancorp's previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, October 6th. This represents a $1.40 dividend on an annualized basis and a yield of 3.2%. Glacier Bancorp's dividend payout ratio is currently 54.10%.

About Glacier Bancorp

Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries and community banking divisions, the company provides financial services to individuals, families, businesses and organizations, with a focus on relationship-based community banking.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and agricultural loans, online and mobile banking, treasury management and other business banking services.

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