Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Glacier Bancorp has received an average rating of "Moderate Buy" from seven brokerage firms, with target prices varying from $48.00 to $55.00.
• The company recently missed earnings estimates for the last quarter, reporting $0.45 EPS, below the consensus of $0.49.
• A quarterly dividend of $0.33 per share has been declared, representing an annualized yield of 2.7% and a payout ratio of 68.75%.

Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) has earned an average rating of "Moderate Buy" from the seven ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $50.50.

Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised their target price on Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective for the company in a research report on Thursday, June 5th. Raymond James Financial reissued an "outperform" rating and set a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Piper Sandler lifted their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, DA Davidson reissued a "buy" rating and set a $50.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th.

Insider Transactions at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of Glacier Bancorp stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the sale, the insider owned 11,918 shares of the company's stock, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

Institutional Trading of Glacier Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in GBCI. Ameritas Advisory Services LLC acquired a new stake in shares of Glacier Bancorp in the second quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Glacier Bancorp by 218.8% in the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank's stock worth $31,000 after buying an additional 490 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Glacier Bancorp in the fourth quarter worth about $33,000. eCIO Inc. acquired a new stake in shares of Glacier Bancorp in the first quarter worth about $33,000. Finally, JNBA Financial Advisors acquired a new stake in shares of Glacier Bancorp in the first quarter worth about $35,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI opened at $49.65 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 29.73 and a beta of 0.82. The stock's fifty day simple moving average is $46.77 and its 200 day simple moving average is $43.98. Glacier Bancorp has a 52-week low of $36.76 and a 52-week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.04). 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 earned $0.39 earnings per share. As a group, sell-side analysts forecast that Glacier Bancorp will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, October 7th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp's payout ratio is 68.75%.

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.

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