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

Key Points

• Glacier Bancorp, Inc. has received a consensus rating of "Moderate Buy" from seven research firms, with an average 12-month target price set at $51.67.
• In their latest quarterly earnings report, Glacier Bancorp reported $0.57 earnings per share, missing estimates of $0.62, while the company announced a quarterly dividend of $0.33.
• Insider activity shows a notable sale by insider Lee Kenneth Groom, who sold 800 shares, decreasing his ownership stake in the company by 6.29%.

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the company, MarketBeat Ratings 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 12 month target price among brokerages that have covered the stock in the last year is $51.6667.

A number of analysts have weighed in on GBCI shares. Piper Sandler raised their price objective on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Raymond James Financial set a $55.00 price objective on shares of Glacier Bancorp and gave the company an "outperform" rating in a research note on Tuesday, October 7th. DA Davidson reiterated a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th.

Glacier Bancorp Stock Down 2.5%

NASDAQ:GBCI opened at $43.92 on Friday. The firm has a market cap of $5.21 billion, a P/E ratio of 26.30 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The firm has a 50-day simple moving average of $47.94 and a two-hundred day simple moving average of $44.40.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings data on Thursday, October 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.05). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the prior year, the business earned $0.46 EPS. Analysts predict that Glacier Bancorp will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th were paid a $0.33 dividend. The ex-dividend date was Tuesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.0%. Glacier Bancorp's payout ratio is currently 68.75%.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of Glacier Bancorp stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total value of $35,392.00. Following the completion of the sale, the insider directly owned 11,918 shares in the company, valued at $527,252.32. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of Glacier Bancorp

Large investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new stake in shares of Glacier Bancorp in the second quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings 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. eCIO Inc. purchased a new position in shares of Glacier Bancorp in the first quarter worth approximately $33,000. JNBA Financial Advisors purchased a new position in shares of Glacier Bancorp in the first quarter worth approximately $35,000. Finally, UMB Bank n.a. boosted its holdings in shares of Glacier Bancorp by 56.1% in the second quarter. UMB Bank n.a. now owns 1,308 shares of the bank's stock worth $56,000 after buying an additional 470 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

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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