Glacier Bancorp (NASDAQ:GBCI) Given New $45.00 Price Target at DA Davidson

Glacier Bancorp (NASDAQ:GBCI) had its price target reduced by DA Davidson from $48.00 to $45.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other brokerages have also recently issued reports on GBCI. Raymond James boosted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research note on Friday, January 5th. Stephens restated an equal weight rating and issued a $44.00 price objective on shares of Glacier Bancorp in a research note on Friday. Truist Financial decreased their price target on Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a research report on Monday. Finally, StockNews.com upgraded Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $41.20.

Glacier Bancorp Trading Up 2.1 %

NASDAQ GBCI opened at $37.70 on Monday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 21.54 and a beta of 0.80. Glacier Bancorp has a one year low of $26.77 and a one year high of $44.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The business’s fifty day moving average is $37.80 and its 200-day moving average is $36.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. Equities research analysts predict that Glacier Bancorp will post 1.82 EPS for the current year.

Glacier Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, April 8th. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a dividend yield of 3.50%. Glacier Bancorp’s dividend payout ratio is currently 75.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GBCI. Allworth Financial LP grew its holdings in shares of Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Glacier Bancorp during the fourth quarter worth about $25,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Glacier Bancorp during the first quarter worth about $25,000. FNY Investment Advisers LLC purchased a new position in shares of Glacier Bancorp during the fourth quarter worth about $28,000. Finally, Selway Asset Management purchased a new position in shares of Glacier Bancorp during the third quarter worth about $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.