Glacier Bancorp (NASDAQ:GBCI) Given New $40.00 Price Target at Stephens

Glacier Bancorp (NASDAQ:GBCI) had its price target cut by Stephens from $44.00 to $40.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other equities analysts have also issued reports on GBCI. StockNews.com raised Glacier Bancorp to a sell rating in a research note on Tuesday, March 19th. Truist Financial cut their price target on Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a research note on Monday. DA Davidson cut their target price on Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a research note on Monday. Finally, Raymond James increased their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Glacier Bancorp currently has an average rating of Hold and a consensus price target of $40.40.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $38.38 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. Glacier Bancorp has a 52 week low of $26.77 and a 52 week high of $44.06. The firm has a market cap of $4.35 billion, a P/E ratio of 21.93 and a beta of 0.80. The business’s fifty day moving average is $37.86 and its two-hundred day moving average is $36.82.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period last year, the company earned $0.55 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts forecast that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a $0.33 dividend. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.44%. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Hedge Funds Weigh In On Glacier Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Cooke & Bieler LP increased its holdings in shares of Glacier Bancorp by 34.0% in the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after acquiring an additional 821,199 shares in the last quarter. Norges Bank bought a new stake in shares of Glacier Bancorp in the fourth quarter worth about $32,617,000. Envestnet Asset Management Inc. increased its holdings in shares of Glacier Bancorp by 361.0% in the third quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock worth $25,724,000 after acquiring an additional 706,833 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Glacier Bancorp by 124.7% in the fourth quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank’s stock worth $49,622,000 after acquiring an additional 666,478 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Glacier Bancorp by 5,065.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 586,360 shares of the bank’s stock worth $24,228,000 after acquiring an additional 575,008 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.