Glacier Bancorp (NASDAQ:GBCI) Given “Equal Weight” Rating at Stephens

Stephens reaffirmed their equal weight rating on shares of Glacier Bancorp (NASDAQ:GBCI) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $44.00 target price on the bank’s stock.

Several other brokerages have also recently weighed in on GBCI. StockNews.com raised shares of Glacier Bancorp to a sell rating in a research note on Tuesday, March 19th. Truist Financial lowered their price target on shares of Glacier Bancorp from $45.00 to $42.00 and set a hold rating on the stock in a research note on Monday, April 1st. Finally, Raymond James lifted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $41.20.

Glacier Bancorp Stock Up 2.1 %

Shares of NASDAQ GBCI opened at $37.70 on Friday. Glacier Bancorp has a 1 year low of $26.77 and a 1 year high of $44.06. The firm’s 50-day moving average is $37.80 and its 200-day moving average is $36.76. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.27 billion, a PE ratio of 21.54 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Friday, April 19th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts expect that Glacier Bancorp will post 1.82 EPS for the current year.

Glacier Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a $0.33 dividend. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.50%. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s dividend payout ratio is currently 75.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GBCI. Allworth Financial LP lifted its stake in shares of Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after acquiring an additional 479 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Glacier Bancorp during the fourth quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp during the first quarter valued at about $25,000. FNY Investment Advisers LLC bought a new position in shares of Glacier Bancorp during the fourth quarter valued at about $28,000. Finally, Selway Asset Management bought a new position in shares of Glacier Bancorp during the third quarter valued at about $47,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.