Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives Consensus Recommendation of “Hold” from Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been given an average recommendation of “Hold” by the five brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $43.00.

A number of brokerages have issued reports on GBCI. Piper Sandler reiterated a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research note on Tuesday, August 27th. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Finally, Truist Financial upped their target price on shares of Glacier Bancorp from $38.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd.

Insider Transactions at Glacier Bancorp

In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the sale, the chief accounting officer now owns 52,539 shares in the company, valued at approximately $2,389,999.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Annie M. Goodwin sold 5,619 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total transaction of $250,326.45. Following the sale, the director now directly owns 9,402 shares in the company, valued at approximately $418,859.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Don J. Chery sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the sale, the chief accounting officer now directly owns 52,539 shares in the company, valued at $2,389,999.11. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of GBCI. &PARTNERS bought a new position in Glacier Bancorp during the first quarter valued at $991,000. Capital International Investors lifted its stake in Glacier Bancorp by 45.1% in the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after purchasing an additional 566,513 shares during the last quarter. Sei Investments Co. boosted its position in shares of Glacier Bancorp by 46.2% during the first quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock valued at $5,974,000 after buying an additional 46,890 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Glacier Bancorp by 21.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after buying an additional 13,655 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of Glacier Bancorp during the 1st quarter worth approximately $477,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $42.62 on Friday. The business’s fifty day moving average is $43.11 and its 200 day moving average is $39.46. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 24.35 and a beta of 0.80. Glacier Bancorp has a twelve month low of $26.83 and a twelve month high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The company had revenue of $306.04 million during the quarter, compared to analyst estimates of $204.43 million. During the same period last year, the business earned $0.50 EPS. Research analysts expect that Glacier Bancorp will post 1.62 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were given a $0.33 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.32 annualized dividend and a yield of 3.10%. Glacier Bancorp’s payout ratio is 75.43%.

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.