Glacier Bancorp (NASDAQ:GBCI) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Glacier Bancorp (NASDAQ:GBCI) to a sell rating in a research note published on Wednesday.

A number of other research firms have also weighed in on GBCI. Truist Financial reduced their price objective on Glacier Bancorp from $42.00 to $40.00 and set a hold rating for the company in a research note on Monday, April 22nd. DA Davidson decreased their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, Stephens reduced their price target on shares of Glacier Bancorp from $44.00 to $40.00 and set an equal weight rating for the company in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $40.40.

Glacier Bancorp Stock Down 1.1 %

NASDAQ:GBCI opened at $38.65 on Wednesday. The company’s 50 day moving average is $37.96 and its two-hundred day moving average is $37.92. The company has a market cap of $4.38 billion, a PE ratio of 22.09 and a beta of 0.81. Glacier Bancorp has a twelve month low of $26.83 and a twelve month high of $44.06. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The business had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Analysts anticipate that Glacier Bancorp will post 1.64 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.42%. The ex-dividend date was Monday, April 8th. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is 75.43%.

Hedge Funds Weigh In On Glacier Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. increased its position in Glacier Bancorp by 3.2% during the fourth quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock worth $396,000 after purchasing an additional 300 shares during the last quarter. Xponance Inc. grew its holdings in shares of Glacier Bancorp by 2.0% in the fourth quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock valued at $676,000 after purchasing an additional 326 shares in the last quarter. CWM LLC increased its stake in Glacier Bancorp by 0.9% during the 1st quarter. CWM LLC now owns 35,864 shares of the bank’s stock worth $1,445,000 after buying an additional 331 shares during the period. Retirement Systems of Alabama lifted its holdings in Glacier Bancorp by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock worth $5,609,000 after buying an additional 370 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Glacier Bancorp by 14.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after buying an additional 413 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

About Glacier Bancorp

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.