Glacier Bancorp (NASDAQ:GBCI) Earns Buy Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of Glacier Bancorp (NASDAQ:GBCI) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $50.00 price target on the bank’s stock.

Other equities research analysts have also issued reports about the company. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Raymond James Financial set a $45.00 price objective on Glacier Bancorp in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Finally, Janney Montgomery Scott raised Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Thursday, June 5th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Glacier Bancorp Trading Up 1.7%

NASDAQ GBCI opened at $42.88 on Wednesday. The firm has a market capitalization of $4.87 billion, a P/E ratio of 25.68 and a beta of 0.77. The business has a fifty day simple moving average of $41.63 and a 200 day simple moving average of $45.66. Glacier Bancorp has a 12 month low of $35.26 and a 12 month high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter last year, the firm posted $0.29 earnings per share. On average, analysts predict that Glacier Bancorp will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.08%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Institutional Trading of Glacier Bancorp

A number of large investors have recently modified their holdings of GBCI. Norges Bank bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $56,923,000. Madison Investment Advisors LLC bought a new stake in Glacier Bancorp in the 4th quarter worth approximately $47,770,000. Millennium Management LLC lifted its position in Glacier Bancorp by 4,600.1% in the 4th quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock worth $47,010,000 after buying an additional 916,163 shares during the last quarter. Nuveen LLC bought a new stake in Glacier Bancorp in the 1st quarter worth approximately $21,220,000. Finally, JPMorgan Chase & Co. lifted its position in Glacier Bancorp by 76.0% in the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock worth $28,192,000 after buying an additional 242,414 shares during the last quarter. 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.