Glacier Bancorp, Inc. (GBCI) Downgraded by Zacks Investment Research
Glacier Bancorp, Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
GBCI has been the topic of several other research reports. SunTrust Banks, Inc. set a $41.00 price objective on shares of Glacier Bancorp and gave the company a “buy” rating in a research report on Saturday, October 21st. Piper Jaffray Companies set a $38.00 price objective on shares of Glacier Bancorp and gave the company a “hold” rating in a research report on Saturday, October 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price objective on shares of Glacier Bancorp in a research report on Friday, September 29th. Finally, BidaskClub cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.33.
Glacier Bancorp (NASDAQ GBCI) traded up $0.09 on Friday, reaching $37.95. 269,039 shares of the company traded hands, compared to its average volume of 323,387. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.00 billion, a P/E ratio of 22.33, a P/E/G ratio of 2.16 and a beta of 1.45.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. Glacier Bancorp had a net margin of 27.69% and a return on equity of 11.35%. The firm had revenue of $120.00 million during the quarter, compared to the consensus estimate of $121.07 million. equities research analysts predict that Glacier Bancorp will post 1.78 EPS for the current year.
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In related news, Director Michael J. Blodnick sold 45,060 shares of Glacier Bancorp stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $37.88, for a total value of $1,706,872.80. Following the transaction, the director now owns 27,576 shares in the company, valued at approximately $1,044,578.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its position in shares of Glacier Bancorp by 86.1% in the third quarter. BNP Paribas Arbitrage SA now owns 44,903 shares of the bank’s stock valued at $1,696,000 after acquiring an additional 20,778 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in shares of Glacier Bancorp in the third quarter valued at about $320,000. Principal Financial Group Inc. increased its position in shares of Glacier Bancorp by 1.2% in the third quarter. Principal Financial Group Inc. now owns 600,580 shares of the bank’s stock valued at $22,678,000 after acquiring an additional 7,108 shares during the period. Chicago Equity Partners LLC increased its position in shares of Glacier Bancorp by 10.6% in the third quarter. Chicago Equity Partners LLC now owns 24,040 shares of the bank’s stock valued at $908,000 after acquiring an additional 2,300 shares during the period. Finally, NJ State Employees Deferred Compensation Plan increased its position in shares of Glacier Bancorp by 20.0% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 18,000 shares of the bank’s stock valued at $680,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.
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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