Glacier Bancorp (NASDAQ:GBCI) Given New $40.00 Price Target at Truist Financial

Glacier Bancorp (NASDAQ:GBCI) had its target price cut by Truist Financial from $42.00 to $40.00 in a research report released on Monday, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other research firms also recently weighed in on GBCI. StockNews.com raised shares of Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. Stephens reaffirmed an equal weight rating and set a $44.00 price objective on shares of Glacier Bancorp in a research report on Friday. Finally, Raymond James boosted their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $41.20.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $37.70 on Monday. Glacier Bancorp has a 12 month low of $26.77 and a 12 month high of $44.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $4.27 billion, a P/E ratio of 21.54 and a beta of 0.80. The company’s fifty day moving average price is $37.80 and its two-hundred day moving average price is $36.76.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, research analysts anticipate that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is currently 75.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Berry Wealth Group LP acquired a new position in Glacier Bancorp during the 1st quarter valued at about $261,000. Ashton Thomas Private Wealth LLC boosted its stake in Glacier Bancorp by 0.6% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 254,299 shares of the bank’s stock valued at $10,243,000 after purchasing an additional 1,610 shares during the period. State of Michigan Retirement System boosted its stake in Glacier Bancorp by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock valued at $1,097,000 after purchasing an additional 600 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp during the 1st quarter valued at about $25,000. Finally, Bridge City Capital LLC boosted its stake in Glacier Bancorp by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 104,445 shares of the bank’s stock valued at $4,207,000 after purchasing an additional 815 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the bank 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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.