Glacier Bancorp, Inc. (NASDAQ:GBCI) Lowered to Hold at Zacks Investment Research
Glacier Bancorp, Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
GBCI has been the topic of several other reports. Piper Jaffray Companies reissued a “hold” rating and issued a $37.00 target price on shares of Glacier Bancorp in a report on Wednesday, July 12th. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods set a $36.00 price target on shares of Glacier Bancorp and gave the company a “hold” rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.33.
Glacier Bancorp (GBCI) traded up 2.68% during trading on Tuesday, reaching $35.97. 427,555 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $35.77 and its 200 day moving average price is $34.89. The firm has a market cap of $2.81 billion, a P/E ratio of 21.80 and a beta of 1.45. Glacier Bancorp has a 52-week low of $25.90 and a 52-week high of $38.17.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by $0.01. Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. The firm had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.60 million. During the same period in the prior year, the business earned $0.40 earnings per share. Equities research analysts anticipate that Glacier Bancorp will post $1.79 EPS for the current fiscal year.
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In related news, Director James M. English sold 2,500 shares of Glacier Bancorp stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $36.65, for a total transaction of $91,625.00. Following the sale, the director now directly owns 20,181 shares of the company’s stock, valued at approximately $739,633.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.65% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Glacier Bancorp by 50,940.2% in the first quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock valued at $327,084,000 after buying an additional 9,621,084 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Glacier Bancorp by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock valued at $239,402,000 after buying an additional 381,855 shares during the last quarter. State Street Corp boosted its stake in shares of Glacier Bancorp by 25.8% in the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock valued at $101,899,000 after buying an additional 615,216 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Glacier Bancorp by 2.7% in the first quarter. JPMorgan Chase & Co. now owns 2,207,769 shares of the bank’s stock valued at $74,909,000 after buying an additional 58,634 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its stake in shares of Glacier Bancorp by 12.7% in the first quarter. Aberdeen Asset Management PLC UK now owns 2,067,985 shares of the bank’s stock valued at $70,177,000 after buying an additional 233,270 shares during the last quarter. 79.97% of the stock is currently owned by institutional investors.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It 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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