Glacier Bancorp Inc. (GBCI) Raised to “Hold” at Zacks Investment Research
Glacier Bancorp Inc. (NASDAQ:GBCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Separately, FIG Partners lowered Glacier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $27.25.
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Shares of Glacier Bancorp (NASDAQ:GBCI) traded down 0.60% on Wednesday, reaching $28.37. The company’s stock had a trading volume of 339,043 shares. The firm’s 50-day moving average price is $28.94 and its 200-day moving average price is $27.07. Glacier Bancorp has a 12 month low of $21.90 and a 12 month high of $30.12. The stock has a market cap of $2.16 billion, a P/E ratio of 18.22 and a beta of 1.47.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 21st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.01. Glacier Bancorp had a net margin of 27.17% and a return on equity of 10.82%. On average, analysts forecast that Glacier Bancorp will post $1.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Tuesday, October 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.82%. Glacier Bancorp’s payout ratio is 51.28%.
Several hedge funds and other institutional investors have recently bought and sold shares of GBCI. Naples Global Advisors LLC purchased a new position in Glacier Bancorp during the second quarter valued at $349,000. BNP Paribas Arbitrage SA increased its position in Glacier Bancorp by 122.5% in the second quarter. BNP Paribas Arbitrage SA now owns 24,310 shares of the company’s stock valued at $646,000 after buying an additional 13,382 shares during the last quarter. Renaissance Technologies LLC increased its position in Glacier Bancorp by 51.8% in the first quarter. Renaissance Technologies LLC now owns 942,460 shares of the company’s stock valued at $23,957,000 after buying an additional 321,460 shares during the last quarter. Geode Capital Management LLC increased its position in Glacier Bancorp by 5.6% in the first quarter. Geode Capital Management LLC now owns 530,082 shares of the company’s stock valued at $13,474,000 after buying an additional 28,208 shares during the last quarter. Finally, State Street Corp increased its position in Glacier Bancorp by 1.9% in the first quarter. State Street Corp now owns 2,405,266 shares of the company’s stock valued at $61,138,000 after buying an additional 45,843 shares during the last quarter. Institutional investors own 75.60% of the company’s stock.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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