Glacier Bancorp (NASDAQ:GBCI) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Glacier Bancorp (NASDAQ:GBCIFree Report) to a sell rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the company. Truist Financial dropped their price target on Glacier Bancorp from $42.00 to $40.00 and set a hold rating on the stock in a research report on Monday, April 22nd. Stephens dropped their price target on Glacier Bancorp from $44.00 to $40.00 and set an equal weight rating on the stock in a research report on Tuesday, April 23rd. Finally, DA Davidson dropped their price target on Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $40.40.

View Our Latest Analysis on Glacier Bancorp

Glacier Bancorp Stock Performance

Shares of GBCI opened at $36.16 on Thursday. The business’s 50 day moving average is $37.62 and its two-hundred day moving average is $38.23. Glacier Bancorp has a 52-week low of $26.83 and a 52-week high of $44.06. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 20.66 and a beta of 0.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCIGet Free Report) last announced its earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Analysts forecast that Glacier Bancorp will post 1.64 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were given a $0.33 dividend. The ex-dividend date was Monday, April 8th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.65%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after buying an additional 479 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp in the first quarter worth $25,000. GAMMA Investing LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth $25,000. FNY Investment Advisers LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth $28,000. Finally, Headlands Technologies LLC bought a new position in shares of Glacier Bancorp in the first quarter worth $50,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Company Profile

(Get Free Report)

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.

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