Glacier Bancorp’s (GBCI) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Glacier Bancorp (NYSE:GBCI) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $58.00 price target on the stock.

A number of other equities analysts have also recently commented on GBCI. Weiss Ratings reissued a “hold (c+)” rating on shares of Glacier Bancorp in a report on Monday, July 20th. Stephens raised their price objective on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler raised their price objective on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Stock Performance

NYSE GBCI opened at $48.74 on Monday. The firm’s 50 day simple moving average is $49.82 and its 200 day simple moving average is $48.39. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 19.98 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp has a 1 year low of $39.90 and a 1 year high of $54.58.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The business had revenue of $320.94 million during the quarter. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, research analysts expect that Glacier Bancorp will post 3.15 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp’s payout ratio is currently 54.10%.

Hedge Funds Weigh In On Glacier Bancorp

Large investors have recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Glacier Bancorp during the second quarter valued at about $424,000. Gradient Investments LLC grew its holdings in shares of Glacier Bancorp by 0.7% during the second quarter. Gradient Investments LLC now owns 58,919 shares of the company’s stock worth $3,039,000 after purchasing an additional 430 shares during the last quarter. Argent Capital Management LLC increased its stake in shares of Glacier Bancorp by 120.4% in the first quarter. Argent Capital Management LLC now owns 36,536 shares of the company’s stock valued at $1,632,000 after buying an additional 19,958 shares during the period. Bank of America Corp DE increased its stake in shares of Glacier Bancorp by 82.1% in the first quarter. Bank of America Corp DE now owns 1,281,285 shares of the company’s stock valued at $57,235,000 after buying an additional 577,654 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Glacier Bancorp by 887.5% in the 1st quarter. Janus Henderson Group PLC now owns 555,761 shares of the company’s stock valued at $24,827,000 after buying an additional 499,484 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.