Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Free Report) has earned an average rating of “Moderate Buy” from the four ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.40.
Several equities analysts recently weighed in on the stock. Raymond James raised their price objective 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. TheStreet upgraded shares of Glacier Bancorp from a “c” rating to a “b-” rating in a report on Friday, December 1st. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a report on Friday, January 19th. Finally, Truist Financial raised their target price on Glacier Bancorp from $43.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday.
Glacier Bancorp Price Performance
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last issued its earnings results on Friday, January 26th. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.08. The company had revenue of $197.32 million for the quarter, compared to analyst estimates of $198.32 million. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The business’s revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. As a group, sell-side analysts predict that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.
Glacier Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Tuesday, December 5th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, December 4th. Glacier Bancorp’s dividend payout ratio is currently 65.67%.
Institutional Investors Weigh In On Glacier Bancorp
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cooke & Bieler LP lifted its holdings in shares of Glacier Bancorp by 34.0% during the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after buying an additional 821,199 shares during the last quarter. Xponance Inc. increased its position in Glacier Bancorp by 2.0% during the fourth quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock worth $676,000 after acquiring an additional 326 shares during the period. Federated Hermes Inc. raised its stake in Glacier Bancorp by 3.2% during the 4th quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock valued at $396,000 after purchasing an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Glacier Bancorp by 4.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,993 shares of the bank’s stock valued at $991,000 after purchasing an additional 1,082 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Glacier Bancorp in the 4th quarter valued at $283,000. 76.91% of the stock is owned by institutional investors and hedge funds.
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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.
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