DA Davidson Trims Glacier Bancorp (NASDAQ:GBCI) Target Price to $45.00

Glacier Bancorp (NASDAQ:GBCI) had its target price cut by DA Davidson from $48.00 to $45.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the bank’s stock. DA Davidson also issued estimates for Glacier Bancorp’s Q2 2024 earnings at $0.41 EPS, FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

A number of other research firms have also recently commented on GBCI. StockNews.com raised shares of Glacier Bancorp to a sell rating in a report on Tuesday, March 19th. Truist Financial lowered their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a report on Monday. Raymond James lifted their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an outperform rating in a report on Friday, January 5th. Finally, Stephens reaffirmed an equal weight rating and issued a $44.00 price target on shares of Glacier Bancorp in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Glacier Bancorp presently has a consensus rating of Hold and an average target price of $40.40.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $37.93 on Monday. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The stock’s 50 day moving average price is $37.91 and its 200-day moving average price is $36.83. The company has a market capitalization of $4.30 billion, a PE ratio of 21.67 and a beta of 0.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business 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%. Glacier Bancorp’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, equities analysts anticipate that Glacier Bancorp will post 1.73 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.48%. Glacier Bancorp’s payout ratio is presently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Glacier Bancorp by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock valued at $510,312,000 after acquiring an additional 80,251 shares during the period. Cooke & Bieler LP increased its holdings in shares of Glacier Bancorp by 34.0% in the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after purchasing an additional 821,199 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Glacier Bancorp by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,970 shares of the bank’s stock worth $95,661,000 after purchasing an additional 96,347 shares during the period. Capital International Investors increased its holdings in shares of 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 period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Glacier Bancorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,478,811 shares of the bank’s stock worth $61,104,000 after purchasing an additional 65,372 shares during the period. 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.