Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have received a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.00.
Several research firms recently weighed in on GBCI. SunTrust Banks cut their price objective on shares of Glacier Bancorp from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. DA Davidson reissued a “neutral” rating and set a $48.00 target price on shares of Glacier Bancorp in a research note on Tuesday, December 24th. They noted that the move was a valuation call. ValuEngine downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. BidaskClub raised Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Finally, Stephens set a $40.00 target price on Glacier Bancorp and gave the stock a “hold” rating in a research note on Thursday, October 17th.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY raised its stake in Glacier Bancorp by 0.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 27,482 shares of the bank’s stock worth $1,112,000 after acquiring an additional 244 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Glacier Bancorp by 2.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,343 shares of the bank’s stock valued at $462,000 after buying an additional 300 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Glacier Bancorp by 4.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the bank’s stock valued at $265,000 after buying an additional 301 shares during the period. Aperio Group LLC increased its stake in shares of Glacier Bancorp by 1.9% in the second quarter. Aperio Group LLC now owns 21,186 shares of the bank’s stock valued at $859,000 after buying an additional 388 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Glacier Bancorp by 2.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,644 shares of the bank’s stock valued at $797,000 after buying an additional 403 shares during the period. 73.55% of the stock is owned by hedge funds and other institutional investors.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.02). Glacier Bancorp had a return on equity of 12.65% and a net margin of 30.85%. The firm had revenue of $174.50 million for the quarter, compared to the consensus estimate of $157.11 million. Equities research analysts expect that Glacier Bancorp will post 2.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Monday, December 9th. Glacier Bancorp’s payout ratio is 53.46%.
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.
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