Glacier Bancorp (NASDAQ:GBCI) Lowered to “Strong Sell” at BidaskClub

BidaskClub cut shares of Glacier Bancorp (NASDAQ:GBCI) from a sell rating to a strong sell rating in a research note released on Friday morning, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Glacier Bancorp from a buy rating to a hold rating in a report on Tuesday, June 9th. SunTrust Banks increased their target price on Glacier Bancorp from $36.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, May 19th. Finally, DA Davidson raised Glacier Bancorp from a neutral rating to a buy rating and reduced their target price for the company from $48.00 to $36.00 in a research note on Monday, March 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Glacier Bancorp has an average rating of Hold and a consensus price target of $41.75.

Glacier Bancorp stock opened at $33.34 on Friday. The stock has a market cap of $3.32 billion, a P/E ratio of 14.75 and a beta of 1.07. Glacier Bancorp has a fifty-two week low of $26.66 and a fifty-two week high of $46.54. The firm’s fifty day moving average price is $39.18 and its 200-day moving average price is $39.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.85.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.10). The firm had revenue of $167.64 million during the quarter, compared to the consensus estimate of $166.37 million. Glacier Bancorp had a return on equity of 11.06% and a net margin of 29.31%. Sell-side analysts predict that Glacier Bancorp will post 2.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, July 7th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.16 dividend on an annualized basis and a yield of 3.48%. Glacier Bancorp’s dividend payout ratio is presently 48.74%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in Glacier Bancorp by 5.1% during the first quarter. State Street Corp now owns 3,173,963 shares of the bank’s stock valued at $107,931,000 after buying an additional 154,265 shares during the period. State of Tennessee Treasury Department boosted its position in Glacier Bancorp by 57.8% during the first quarter. State of Tennessee Treasury Department now owns 47,401 shares of the bank’s stock valued at $1,612,000 after buying an additional 17,361 shares during the period. Coldstream Capital Management Inc. boosted its position in Glacier Bancorp by 45.9% during the first quarter. Coldstream Capital Management Inc. now owns 57,548 shares of the bank’s stock valued at $1,957,000 after buying an additional 18,092 shares during the period. FDx Advisors Inc. purchased a new stake in Glacier Bancorp during the first quarter valued at about $34,000. Finally, Waddell & Reed Financial Inc. boosted its position in Glacier Bancorp by 13.2% during the first quarter. Waddell & Reed Financial Inc. now owns 597,963 shares of the bank’s stock valued at $20,334,000 after buying an additional 69,879 shares during the period. Institutional investors and hedge funds own 72.22% of the company’s stock.

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 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.

Read More: Dividend Yield

Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.