Glacier Bancorp (GBCI) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a buy rating in a research note published on Wednesday.

GBCI has been the subject of a number of other reports. Zacks Investment Research cut shares of Glacier Bancorp from a buy rating to a hold rating in a report on Thursday, October 25th. ValuEngine cut shares of Glacier Bancorp from a buy rating to a hold rating in a report on Wednesday, October 24th. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $44.00 target price on shares of Glacier Bancorp in a report on Monday, July 23rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $42.83.

Shares of GBCI traded down $0.09 during mid-day trading on Wednesday, hitting $44.99. 350,395 shares of the company traded hands, compared to its average volume of 548,886. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.20. Glacier Bancorp has a 1 year low of $35.50 and a 1 year high of $46.28. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.04 and a beta of 1.25.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 18th. The bank reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). Glacier Bancorp had a net margin of 26.36% and a return on equity of 11.96%. The company had revenue of $146.16 million for the quarter, compared to analysts’ expectations of $144.01 million. As a group, analysts expect that Glacier Bancorp will post 2.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Tuesday, October 9th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, October 5th. This represents a $1.04 dividend on an annualized basis and a yield of 2.31%. Glacier Bancorp’s dividend payout ratio is currently 59.43%.

A number of hedge funds have recently made changes to their positions in the business. Marshall & Sullivan Inc. WA purchased a new stake in shares of Glacier Bancorp in the second quarter worth $118,000. PNC Financial Services Group Inc. increased its stake in shares of Glacier Bancorp by 32.5% in the second quarter. PNC Financial Services Group Inc. now owns 4,894 shares of the bank’s stock worth $190,000 after purchasing an additional 1,200 shares in the last quarter. Creative Planning purchased a new stake in shares of Glacier Bancorp in the second quarter worth $210,000. Everence Capital Management Inc. purchased a new stake in shares of Glacier Bancorp in the third quarter worth $216,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Glacier Bancorp in the first quarter worth $270,000. 81.13% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Glacier Bancorp (NASDAQ:GBCI)

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