Glacier Bancorp, Inc. (GBCI) Cut to Sell at Zacks Investment Research
Glacier Bancorp, Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Several other analysts have also recently commented on the company. Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the company a “hold” rating in a report on Saturday, July 29th. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Keefe, Bruyette & Woods set a $36.00 price target on Glacier Bancorp and gave the company a “hold” rating in a report on Monday, August 28th. Finally, SunTrust Banks, Inc. set a $41.00 price target on Glacier Bancorp and gave the company a “buy” rating in a report on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Glacier Bancorp has an average rating of “Hold” and a consensus price target of $38.33.
Glacier Bancorp (NASDAQ GBCI) traded up $0.09 on Friday, reaching $37.95. The company’s stock had a trading volume of 269,039 shares, compared to its average volume of 323,387. The company has a market cap of $3.00 billion, a PE ratio of 22.33, a PEG ratio of 2.16 and a beta of 1.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $120.00 million during the quarter, compared to analysts’ expectations of $121.07 million. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. equities analysts predict that Glacier Bancorp will post 1.78 EPS for the current fiscal year.
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In other news, Director Michael J. Blodnick sold 45,060 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $37.88, for a total transaction of $1,706,872.80. Following the completion of the sale, the director now owns 27,576 shares in the company, valued at approximately $1,044,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of GBCI. LS Investment Advisors LLC grew its holdings in shares of Glacier Bancorp by 4.9% during the 2nd quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock worth $105,000 after purchasing an additional 134 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Glacier Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock worth $116,000 after purchasing an additional 283 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Glacier Bancorp by 34.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock worth $135,000 after purchasing an additional 947 shares during the period. Advisor Group Inc. grew its holdings in shares of Glacier Bancorp by 23.7% during the 2nd quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock worth $142,000 after purchasing an additional 744 shares during the period. Finally, Fiduciary Trust Co. purchased a new stake in shares of Glacier Bancorp during the 2nd quarter worth about $183,000. Institutional investors and hedge funds own 81.17% of the company’s stock.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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