Glacier Bancorp (NASDAQ:GBCI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a sell rating in a report issued on Friday morning, Zacks.com reports.

According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “

Separately, BidaskClub cut shares of Glacier Bancorp from a buy rating to a hold rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $43.67.

Shares of GBCI stock opened at $40.79 on Friday. The stock has a market cap of $3.53 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.69 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day moving average price of $39.83 and a two-hundred day moving average price of $40.49. Glacier Bancorp has a one year low of $36.84 and a one year high of $47.67.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $151.13 million during the quarter, compared to analysts’ expectations of $151.63 million. Glacier Bancorp had a net margin of 31.97% and a return on equity of 13.02%. As a group, equities research analysts anticipate that Glacier Bancorp will post 2.4 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of GBCI. Geode Capital Management LLC raised its position in shares of Glacier Bancorp by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 963,015 shares of the bank’s stock valued at $38,153,000 after purchasing an additional 95,121 shares during the period. Bank of Montreal Can raised its position in shares of Glacier Bancorp by 3.7% in the first quarter. Bank of Montreal Can now owns 6,776 shares of the bank’s stock valued at $271,000 after purchasing an additional 243 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Glacier Bancorp by 26.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,700 shares of the bank’s stock valued at $1,270,000 after purchasing an additional 6,547 shares during the period. Raymond James & Associates raised its position in shares of Glacier Bancorp by 8.0% in the first quarter. Raymond James & Associates now owns 305,975 shares of the bank’s stock valued at $12,260,000 after purchasing an additional 22,635 shares during the period. Finally, Mason Street Advisors LLC raised its position in shares of Glacier Bancorp by 3.4% in the first quarter. Mason Street Advisors LLC now owns 27,145 shares of the bank’s stock valued at $1,088,000 after purchasing an additional 897 shares during the period. 77.03% of the stock is currently owned by 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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