Glacier Bancorp (NASDAQ:GBCI) PT Lowered to $40.00 at Stephens

Glacier Bancorp (NASDAQ:GBCI) had its price objective lowered by Stephens from $44.00 to $40.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

Several other equities analysts have also recently commented on the stock. Raymond James raised their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research report on Friday, January 5th. Truist Financial reduced their price objective on shares of Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a report on Monday. DA Davidson cut their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a research note on Monday. Finally, StockNews.com upgraded shares of Glacier Bancorp to a sell rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Glacier Bancorp currently has a consensus rating of Hold and a consensus target price of $40.40.

Glacier Bancorp Stock Performance

NASDAQ:GBCI opened at $37.40 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $4.24 billion, a P/E ratio of 21.37 and a beta of 0.80. The company has a 50 day moving average price of $37.89 and a 200 day moving average price of $36.84. Glacier Bancorp has a fifty-two week low of $26.77 and a fifty-two week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $196.47 million for 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 business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Equities research analysts forecast that Glacier Bancorp will post 1.68 EPS for the current year.

Glacier Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a $0.33 dividend. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.53%. Glacier Bancorp’s payout ratio is presently 75.43%.

Institutional Trading of Glacier Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in shares of Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after purchasing an additional 479 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $25,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Glacier Bancorp in the first quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new position in shares of Glacier Bancorp in the fourth quarter valued at approximately $28,000. Finally, Selway Asset Management acquired a new position in shares of Glacier Bancorp in the third quarter valued at approximately $47,000. Hedge funds and other 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.