Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $51.50.

Several research analysts have recently commented on the company. Raymond James reiterated an “outperform” rating and issued a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Piper Sandler dropped their price objective on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $38.47 on Tuesday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 23.04 and a beta of 0.80. Glacier Bancorp has a one year low of $34.35 and a one year high of $60.67. The company’s 50-day simple moving average is $47.09 and its 200-day simple moving average is $49.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 8th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.43%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 79.04%.

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds have recently made changes to their positions in GBCI. BNP Paribas Financial Markets increased its position in Glacier Bancorp by 75.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank’s stock valued at $2,111,000 after acquiring an additional 19,814 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Glacier Bancorp by 4.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,056 shares of the bank’s stock valued at $1,191,000 after purchasing an additional 1,112 shares during the period. Verition Fund Management LLC bought a new stake in shares of Glacier Bancorp during the third quarter valued at about $457,000. Paloma Partners Management Co acquired a new stake in Glacier Bancorp in the third quarter worth about $250,000. Finally, Cladis Investment Advisory LLC grew its position in Glacier Bancorp by 1.6% in the 3rd quarter. Cladis Investment Advisory LLC now owns 32,698 shares of the bank’s stock valued at $1,494,000 after buying an additional 500 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

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.