Analysts Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $40.40

Glacier Bancorp, Inc. (NASDAQ:GBCI) has earned a consensus rating of “Moderate Buy” from the four ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $40.40.

GBCI has been the subject of a number of analyst reports. Truist Financial dropped their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. DA Davidson dropped their price objective on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Stephens dropped their price objective on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd.

Glacier Bancorp Stock Up 1.6 %

Shares of GBCI opened at $37.61 on Friday. The firm has a market cap of $4.26 billion, a P/E ratio of 21.49 and a beta of 0.81. The stock has a 50 day simple moving average of $37.15 and a two-hundred day simple moving average of $38.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. Glacier Bancorp has a 1 year low of $26.83 and a 1 year high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The firm had revenue of $196.47 million during the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. On average, analysts forecast that Glacier Bancorp will post 1.64 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Tuesday, July 9th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.51%. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Hedge Funds Weigh In On Glacier Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in GBCI. Federated Hermes Inc. raised its holdings in Glacier Bancorp by 3.2% in the fourth quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock worth $396,000 after purchasing an additional 300 shares in the last quarter. Xponance Inc. raised its holdings in Glacier Bancorp by 2.0% in the fourth quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock worth $676,000 after purchasing an additional 326 shares in the last quarter. CWM LLC raised its holdings in Glacier Bancorp by 0.9% in the first quarter. CWM LLC now owns 35,864 shares of the bank’s stock worth $1,445,000 after purchasing an additional 331 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Glacier Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock worth $5,609,000 after purchasing an additional 370 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares in the last quarter. Institutional investors 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.