Zacks Investment Research upgraded shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $43.00 price target on the bank’s stock.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Several other equities analysts have also issued reports on GBCI. SunTrust Banks reaffirmed a buy rating and set a $43.00 price target on shares of Glacier Bancorp in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $41.00 price target on shares of Glacier Bancorp in a research note on Friday, December 22nd. BidaskClub raised Glacier Bancorp from a hold rating to a buy rating in a research note on Saturday, December 2nd. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the company a hold 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 has an average rating of Hold and a consensus price target of $41.25.
Glacier Bancorp (GBCI) traded up $0.05 during trading on Tuesday, reaching $39.87. The company’s stock had a trading volume of 299,780 shares, compared to its average volume of 339,319. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3,106.24, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.83 and a beta of 1.45. Glacier Bancorp has a one year low of $31.38 and a one year high of $41.23.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $120.00 million for the quarter, compared to analyst estimates of $121.07 million. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. equities analysts forecast that Glacier Bancorp will post 1.77 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Tuesday, December 5th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, December 4th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 48.84%.
In other news, insider Don J. Chery sold 12,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.29, for a total transaction of $459,480.00. Following the transaction, the insider now owns 30,270 shares of the company’s stock, valued at $1,159,038.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Blodnick sold 45,060 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were 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 in the company, valued at approximately $1,044,578.88. The disclosure for this sale can be found here. Insiders have sold 82,398 shares of company stock worth $3,138,825 in the last ninety days. 0.65% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of GBCI. Trust Co increased its holdings in Glacier Bancorp by 21.6% in the third quarter. Trust Co now owns 9,850 shares of the bank’s stock valued at $372,000 after purchasing an additional 1,750 shares during the last quarter. Yellowstone Partners LLC bought a new stake in Glacier Bancorp in the third quarter valued at about $1,161,000. DF Dent & Co. Inc. increased its holdings in Glacier Bancorp by 153.5% in the third quarter. DF Dent & Co. Inc. now owns 21,730 shares of the bank’s stock valued at $821,000 after purchasing an additional 13,159 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Glacier Bancorp by 3.5% in the third quarter. Neuberger Berman Group LLC now owns 1,683,218 shares of the bank’s stock valued at $63,558,000 after purchasing an additional 57,397 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Glacier Bancorp by 4.4% in the third quarter. California Public Employees Retirement System now owns 188,495 shares of the bank’s stock valued at $7,118,000 after purchasing an additional 7,995 shares during the last quarter. 81.57% of the stock is currently owned by institutional investors and hedge funds.
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About Glacier Bancorp
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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