Glacier Bancorp, Inc. (NYSE:GBCI) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Glacier Bancorp, Inc. (NYSE:GBCI) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $57.00.

GBCI has been the subject of a number of research analyst reports. DA Davidson reissued a “buy” rating and issued a $58.00 target price on shares of Glacier Bancorp in a research note on Monday, July 27th. Piper Sandler raised their price target on Glacier Bancorp from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Weiss Ratings upgraded Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $48.92 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.05. Glacier Bancorp has a 12-month low of $39.90 and a 12-month high of $54.58. The firm has a fifty day moving average of $45.34 and a 200-day moving average of $47.65. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 18.32 and a beta of 0.77.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.79 by $0.02. The business had revenue of $333.42 million for the quarter. Glacier Bancorp had a return on equity of 8.38% and a net margin of 21.24%. During the same period in the previous year, the business posted $0.57 EPS. On average, equities research analysts forecast that Glacier Bancorp will post 3.10 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, October 6th were given a dividend of $0.35 per share. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. Glacier Bancorp’s payout ratio is currently 52.43%.

Insider Buying and Selling

In other Glacier Bancorp news, Chairman Craig Langel acquired 2,250 shares of Glacier Bancorp stock in a transaction dated Friday, August 28th. The stock was bought at an average cost of $47.04 per share, for a total transaction of $105,840.00. Following the purchase, the chairman directly owned 98,684 shares in the company, valued at approximately $4,642,095.36. This represents a 2.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Institutional Trading of Glacier Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Glacier Bancorp during the second quarter valued at approximately $913,766,000. Deprince Race & Zollo Inc. increased its position in shares of Glacier Bancorp by 13.4% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,885,725 shares of the company’s stock worth $84,235,000 after purchasing an additional 223,318 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $62,719,000. Madison Asset Management LLC bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $59,048,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $55,775,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

About Glacier Bancorp

Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries, including Glacier Bank, the company provides financial services to individuals, families, businesses and community organizations across the Mountain West and Inland Northwest.

The company’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgages, commercial and real estate lending, agricultural loans, cash-management services and online and mobile banking.