Glacier Bancorp (NASDAQ:GBCI) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

A number of other research firms also recently issued reports on GBCI. SunTrust Banks set a $75.00 target price on Cimarex Energy and gave the stock a hold rating in a research report on Tuesday, April 23rd. Zacks Investment Research raised General Moly from a sell rating to a hold rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Glacier Bancorp has a consensus rating of Hold and an average target price of $43.75.

NASDAQ:GBCI opened at $39.15 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $39.97. Glacier Bancorp has a 1 year low of $36.84 and a 1 year high of $47.67. The stock has a market capitalization of $3.39 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.61 and a beta of 1.18.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, July 18th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Glacier Bancorp had a return on equity of 13.38% and a net margin of 31.97%. The business had revenue of $151.13 million during the quarter, compared to the consensus estimate of $151.63 million. Analysts forecast that Glacier Bancorp will post 2.42 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were issued a $0.27 dividend. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Monday, July 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 49.77%.

In other news, Director David C. Boyles sold 25,399 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $40.32, for a total value of $1,024,087.68. Following the completion of the transaction, the director now directly owns 1,218 shares of the company’s stock, valued at $49,109.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.59% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Buffington Mohr McNeal bought a new position in shares of Glacier Bancorp in the first quarter worth $31,000. FMR LLC boosted its holdings in shares of Glacier Bancorp by 97.5% in the fourth quarter. FMR LLC now owns 1,722 shares of the bank’s stock worth $68,000 after acquiring an additional 850 shares during the period. Cable Hill Partners LLC boosted its holdings in shares of Glacier Bancorp by 1,229.3% in the first quarter. Cable Hill Partners LLC now owns 1,768 shares of the bank’s stock worth $71,000 after acquiring an additional 1,635 shares during the period. First Interstate Bank boosted its holdings in shares of Glacier Bancorp by 31.6% in the first quarter. First Interstate Bank now owns 5,417 shares of the bank’s stock worth $217,000 after acquiring an additional 1,302 shares during the period. Finally, Edge Capital Group LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth $217,000. 77.36% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the 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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

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