Keefe, Bruyette & Woods Cuts Glacier Bancorp (NASDAQ:GBCI) Price Target to $50.00

Glacier Bancorp (NASDAQ:GBCI - Free Report) had its target price lowered by Keefe, Bruyette & Woods from $55.00 to $50.00 in a report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank's stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reduced their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Raymond James restated an "outperform" rating and set a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $50.50.

Glacier Bancorp Price Performance

NASDAQ:GBCI traded up $0.84 during trading hours on Monday, hitting $41.90. The company's stock had a trading volume of 915,363 shares, compared to its average volume of 617,643. The company has a market capitalization of $4.75 billion, a PE ratio of 25.09 and a beta of 0.80. Glacier Bancorp has a 52-week low of $34.48 and a 52-week high of $60.67. The business's 50-day moving average is $42.86 and its two-hundred day moving average is $48.92. 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 (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, research analysts anticipate that Glacier Bancorp will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.15%. Glacier Bancorp's payout ratio is 70.97%.

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Glacier Bancorp by 9.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock worth $60,198,000 after acquiring an additional 113,544 shares during the period. CWM LLC raised its holdings in shares of Glacier Bancorp by 0.7% in the first quarter. CWM LLC now owns 39,635 shares of the bank's stock valued at $1,753,000 after buying an additional 285 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Glacier Bancorp by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank's stock worth $1,406,000 after purchasing an additional 300 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Glacier Bancorp by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,136 shares of the bank's stock worth $1,200,000 after acquiring an additional 300 shares during the last quarter. Finally, First Interstate Bank bought a new position in shares of Glacier Bancorp in the 1st quarter valued at about $593,000. 80.17% of the stock is currently owned by institutional investors.

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.