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

Key Points

• Glacier Bancorp, Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average price objective of $50.00 per share.
• The company reported $0.45 earnings per share for the last quarter, which was below the consensus estimate of $0.49.
• Glacier Bancorp declared a quarterly dividend of $0.33 per share, giving the stock a 3.1% dividend yield.

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the stock, Marketbeat reports. Three 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 price objective among brokers that have updated their coverage on the stock in the last year is $50.00.

A number of research firms have recently commented on GBCI. Keefe, Bruyette & Woods boosted their price objective on Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a research note on Friday, June 27th. Piper Sandler boosted their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and issued a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective on the stock in a research note on Thursday, June 5th. Finally, DA Davidson reissued a "buy" rating and issued a $50.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, June 25th.

Insider Activity

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 value of $35,392.00. Following the transaction, the insider directly owned 11,918 shares in the company, valued at $527,252.32. The trade was a 6.29% decrease in their position. 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 insiders.

Hedge Funds Weigh In On Glacier Bancorp

A number of hedge funds have recently modified their holdings of GBCI. Ameritas Advisory Services LLC purchased a new position in shares of Glacier Bancorp during the second quarter valued at $26,000. Wood Tarver Financial Group LLC purchased a new position in shares of Glacier Bancorp during the fourth quarter valued at $33,000. eCIO Inc. purchased a new position in shares of Glacier Bancorp during the first quarter valued at $33,000. JNBA Financial Advisors purchased a new position in shares of Glacier Bancorp during the first quarter valued at $35,000. Finally, UMB Bank n.a. grew its holdings in shares of Glacier Bancorp by 114.9% during the first quarter. UMB Bank n.a. now owns 838 shares of the bank's stock valued at $37,000 after buying an additional 448 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Down 2.2%

Shares of Glacier Bancorp stock opened at $42.87 on Monday. The business's fifty day moving average price is $43.65 and its two-hundred day moving average price is $44.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $4.87 billion, a P/E ratio of 25.67 and a beta of 0.77. Glacier Bancorp has a 1-year low of $36.76 and a 1-year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the prior year, the company posted $0.39 EPS. As a group, research analysts forecast that Glacier Bancorp will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's payout ratio is presently 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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