Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $42.40.
A number of analysts have commented on the company. Zacks Investment Research upgraded Glacier Bancorp from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, July 25th. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Finally, ValuEngine upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th.
A number of institutional investors and hedge funds have recently modified their holdings of GBCI. Eagle Asset Management Inc. increased its position in Glacier Bancorp by 143.8% in the third quarter. Eagle Asset Management Inc. now owns 1,824,042 shares of the bank’s stock worth $78,597,000 after buying an additional 1,075,862 shares in the last quarter. BlackRock Inc. grew its position in shares of Glacier Bancorp by 9.6% during the second quarter. BlackRock Inc. now owns 11,832,235 shares of the bank’s stock worth $457,672,000 after purchasing an additional 1,032,929 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of Glacier Bancorp during the second quarter worth about $26,929,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Glacier Bancorp during the second quarter worth about $22,081,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Glacier Bancorp by 864.5% during the second quarter. Envestnet Asset Management Inc. now owns 323,712 shares of the bank’s stock worth $12,521,000 after purchasing an additional 290,150 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 18th. The bank reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The company had revenue of $146.16 million during the quarter, compared to analysts’ expectations of $144.01 million. Glacier Bancorp had a return on equity of 11.96% and a net margin of 26.36%. As a group, research analysts anticipate that Glacier Bancorp will post 2.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Tuesday, October 9th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, October 5th. Glacier Bancorp’s payout ratio is 59.43%.
About Glacier Bancorp
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 deposit products, including non-interest bearing deposits, interest bearing 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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