Glacier Bancorp (GBCI) Rating Increased to Buy at BidaskClub

Glacier Bancorp (NASDAQ:GBCI) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

GBCI has been the subject of a number of other research reports. Zacks Investment Research downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Keefe, Bruyette & Woods set a $36.00 target price on Glacier Bancorp and gave the stock a “hold” rating in a research report on Monday, August 28th. Piper Jaffray Companies set a $38.00 target price on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, October 21st. Finally, SunTrust Banks set a $41.00 price target on Glacier Bancorp and gave the stock a “buy” rating in a research note on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.67.

Glacier Bancorp (GBCI) traded up $0.19 during trading hours on Friday, reaching $40.24. The company had a trading volume of 466,614 shares, compared to its average volume of 326,512. The company has a market cap of $3,150.00, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.45. Glacier Bancorp has a one year low of $31.38 and a one year high of $40.72. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.24.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. The company had revenue of $120.00 million during the quarter, compared to the consensus estimate of $121.07 million. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. research analysts anticipate that Glacier Bancorp will post 1.77 EPS for the current fiscal year.

In other Glacier Bancorp news, Director Michael J. Blodnick sold 45,060 shares of Glacier Bancorp stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $37.88, for a total value of $1,706,872.80. Following the transaction, the director now directly owns 27,576 shares of the company’s stock, valued at approximately $1,044,578.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Mutual of America Capital Management LLC increased its stake in shares of Glacier Bancorp by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 160,380 shares of the bank’s stock valued at $6,056,000 after buying an additional 4,399 shares during the period. California Public Employees Retirement System increased its stake in shares of Glacier Bancorp by 1.5% during the second quarter. California Public Employees Retirement System now owns 180,500 shares of the bank’s stock valued at $6,608,000 after buying an additional 2,600 shares during the period. Northern Trust Corp increased its stake in shares of Glacier Bancorp by 7.5% during the second quarter. Northern Trust Corp now owns 1,375,756 shares of the bank’s stock valued at $50,366,000 after buying an additional 96,330 shares during the period. Teachers Advisors LLC increased its stake in shares of Glacier Bancorp by 6.0% during the second quarter. Teachers Advisors LLC now owns 137,408 shares of the bank’s stock valued at $5,031,000 after buying an additional 7,746 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Glacier Bancorp by 2.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock valued at $14,494,000 after buying an additional 9,858 shares during the period. 84.49% of the stock is currently owned by institutional investors and hedge funds.

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Glacier Bancorp Company Profile

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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