Glacier Bancorp (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
A number of other analysts also recently issued reports on GBCI. BidaskClub upgraded Glacier Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $41.00 price target on shares of Glacier Bancorp in a research report on Friday, December 22nd. SunTrust Banks restated a “buy” rating and issued a $42.00 price target on shares of Glacier Bancorp in a research report on Wednesday, November 29th. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, October 21st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $41.25.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The company had revenue of $117.54 million during the quarter, compared to the consensus estimate of $122.23 million. Glacier Bancorp had a return on equity of 11.46% and a net margin of 23.88%. sell-side analysts anticipate that Glacier Bancorp will post 2.25 EPS for the current year.
In other Glacier Bancorp news, insider Don J. Chery sold 12,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.29, for a total value of $459,480.00. Following the sale, the insider now owns 30,270 shares in the company, valued at $1,159,038.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Blodnick sold 25,338 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $38.38, for a total value of $972,472.44. Following the completion of the sale, the director now owns 25,497 shares in the company, valued at approximately $978,574.86. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Koch Industries Inc. increased its stake in Glacier Bancorp by 29.7% in the fourth quarter. Koch Industries Inc. now owns 15,425 shares of the bank’s stock worth $608,000 after purchasing an additional 3,534 shares during the period. Geode Capital Management LLC increased its stake in Glacier Bancorp by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 694,199 shares of the bank’s stock worth $27,344,000 after purchasing an additional 18,074 shares during the period. Commerce Bank increased its stake in Glacier Bancorp by 29.3% in the fourth quarter. Commerce Bank now owns 18,650 shares of the bank’s stock worth $735,000 after purchasing an additional 4,230 shares during the period. Ramsey Quantitative Systems purchased a new stake in Glacier Bancorp in the fourth quarter worth $252,000. Finally, Standard Life Aberdeen plc increased its stake in Glacier Bancorp by 3.1% in the fourth quarter. Standard Life Aberdeen plc now owns 2,317,894 shares of the bank’s stock worth $91,302,000 after purchasing an additional 69,948 shares during the period. Institutional investors and hedge funds own 81.70% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/13/glacier-bancorp-gbci-downgraded-by-zacks-investment-research-to-hold.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.