Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Average Recommendation of “Hold” by Brokerages

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $46.20.

Several research firms have recently commented on GBCI. Piper Sandler upped their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Raymond James increased their price target on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial boosted their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th.

Hedge Funds Weigh In On Glacier Bancorp

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Glacier Bancorp during the 1st quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in Glacier Bancorp during the second quarter valued at $25,000. Headlands Technologies LLC purchased a new position in Glacier Bancorp during the first quarter valued at $50,000. GAMMA Investing LLC grew its position in shares of Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after purchasing an additional 772 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Glacier Bancorp by 44.8% during the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after purchasing an additional 927 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $56.48 on Friday. The stock’s fifty day moving average price is $47.25 and its 200 day moving average price is $42.28. Glacier Bancorp has a 1 year low of $30.18 and a 1 year high of $58.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 34.86 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. As a group, equities research analysts forecast that Glacier Bancorp will post 1.67 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were paid a $0.33 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.34%. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

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.