Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives $37.80 Average Price Target from Brokerages

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have received a consensus rating of “Moderate Buy” from the four ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $37.80.

GBCI has been the topic of a number of recent analyst reports. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Truist Financial decreased their target price on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Finally, Raymond James lifted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th.

Glacier Bancorp Trading Up 0.8 %

Glacier Bancorp stock opened at $35.10 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $37.79 and its 200-day simple moving average is $36.53. The firm has a market capitalization of $3.98 billion, a PE ratio of 17.46 and a beta of 0.80. Glacier Bancorp has a 52 week low of $26.77 and a 52 week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Friday, January 26th. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. The business had revenue of $197.32 million for the quarter, compared to analyst estimates of $198.32 million. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast that Glacier Bancorp will post 1.82 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.76%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s payout ratio is presently 65.67%.

Institutional Investors Weigh In On Glacier Bancorp

Several large investors have recently modified their holdings of the stock. State of Michigan Retirement System grew its stake in shares of Glacier Bancorp by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock valued at $1,097,000 after purchasing an additional 600 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Glacier Bancorp during the 1st quarter worth approximately $25,000. Bridge City Capital LLC grew its position in Glacier Bancorp by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 104,445 shares of the bank’s stock worth $4,207,000 after acquiring an additional 815 shares during the last quarter. &PARTNERS bought a new stake in Glacier Bancorp during the 1st quarter worth approximately $991,000. Finally, Allied Investment Advisors LLC grew its position in Glacier Bancorp by 10.2% during the 1st quarter. Allied Investment Advisors LLC now owns 14,188 shares of the bank’s stock worth $571,000 after acquiring an additional 1,319 shares during the last quarter. 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.