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

Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $50.00.

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

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock opened at $41.06 on Friday. Glacier Bancorp has a twelve month low of $34.71 and a twelve month high of $60.67. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 24.59 and a beta of 0.77. The company has a 50-day simple moving average of $41.34 and a two-hundred day simple moving average of $46.48. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.

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

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.22%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp's dividend payout ratio (DPR) is presently 70.97%.

Hedge Funds Weigh In On Glacier Bancorp

Several large investors have recently modified their holdings of the business. Capital International Investors raised its holdings in Glacier Bancorp by 5.8% during the 4th quarter. Capital International Investors now owns 2,092,571 shares of the bank's stock valued at $105,089,000 after acquiring an additional 115,620 shares during the period. Northern Trust Corp grew its holdings in Glacier Bancorp by 7.7% during the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank's stock valued at $88,587,000 after buying an additional 126,316 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Glacier Bancorp by 9.1% during the first quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock valued at $60,198,000 after buying an additional 113,544 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 worth $59,799,000 after buying an additional 73,756 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Glacier Bancorp by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank's stock valued at $59,988,000 after acquiring an additional 52,566 shares during the period. Hedge funds and other institutional investors 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.

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