Investment Analysts’ Recent Ratings Updates for Glacier Bancorp (GBCI)

Posted by ABMN Staff on Apr 29th, 2024

A number of research firms have changed their ratings and price targets for Glacier Bancorp (NASDAQ: GBCI):

4/23/2024 – Glacier Bancorp had its price target lowered by analysts at Stephens from $44.00 to $40.00. They now have an “equal weight” rating on the stock.
4/22/2024 – Glacier Bancorp had its price target lowered by analysts at Truist Financial Co. from $42.00 to $40.00. They now have a “hold” rating on the stock.
4/22/2024 – Glacier Bancorp had its price target lowered by analysts at DA Davidson from $48.00 to $45.00. They now have a “buy” rating on the stock.
4/19/2024 – Glacier Bancorp had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $44.00 price target on the stock.
4/1/2024 – Glacier Bancorp had its price target lowered by analysts at Truist Financial Co. from $45.00 to $42.00. They now have a “hold” rating on the stock.
3/19/2024 – Glacier Bancorp was upgraded by analysts at StockNews.com to a “sell” rating.
2/29/2024 – Glacier Bancorp was upgraded by analysts at StockNews.com to a “sell” rating.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $37.12 on Monday. The firm’s 50 day moving average is $37.88 and its 200-day moving average is $36.97. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. Glacier Bancorp, Inc. has a 12-month low of $26.77 and a 12-month high of $44.06. The company has a market capitalization of $4.21 billion, a PE ratio of 21.21 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The firm had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue was down 8.2% on a year-over-year basis. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.56%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s payout ratio is currently 75.43%.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Equitable Trust Co. bought a new position in Glacier Bancorp in the 1st quarter worth about $338,000. Louisiana State Employees Retirement System grew its position in Glacier Bancorp by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the bank’s stock worth $1,285,000 after acquiring an additional 800 shares in the last quarter. Berry Wealth Group LP bought a new position in shares of Glacier Bancorp during the 1st quarter valued at about $261,000. Ashton Thomas Private Wealth LLC boosted its position in Glacier Bancorp by 0.6% during the first quarter. Ashton Thomas Private Wealth LLC now owns 254,299 shares of the bank’s stock valued at $10,243,000 after buying an additional 1,610 shares during the period. Finally, State of Michigan Retirement System grew its holdings in shares of Glacier Bancorp by 2.3% in the first quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock worth $1,097,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.