Glacier Bancorp, Inc. (GBCI) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Several other equities research analysts have also commented on the stock. BidaskClub upgraded shares of Glacier Bancorp from a sell rating to a hold rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods set a $36.00 price objective on shares of Glacier Bancorp and gave the company a hold rating in a research note on Monday, June 26th. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $37.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, July 12th.
Shares of Glacier Bancorp (NASDAQ GBCI) opened at 35.49 on Wednesday. The firm has a 50 day moving average price of $33.62 and a 200 day moving average price of $34.33. Glacier Bancorp has a 1-year low of $27.31 and a 1-year high of $38.17. The firm has a market cap of $2.77 billion, a P/E ratio of 21.51 and a beta of 1.45.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. The business had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.60 million. During the same period in the previous year, the business posted $0.40 EPS. Analysts anticipate that Glacier Bancorp will post $1.78 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 21st will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, September 20th. This represents a $0.84 annualized dividend and a dividend yield of 2.37%. Glacier Bancorp’s payout ratio is currently 50.91%.
A number of institutional investors have recently added to or reduced their stakes in GBCI. Alps Advisors Inc. boosted its holdings in Glacier Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 13,450 shares of the bank’s stock valued at $492,000 after purchasing an additional 34 shares during the period. Teacher Retirement System of Texas boosted its holdings in Glacier Bancorp by 1.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the bank’s stock valued at $225,000 after purchasing an additional 93 shares during the period. Arizona State Retirement System boosted its holdings in Glacier Bancorp by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 39,996 shares of the bank’s stock valued at $1,464,000 after purchasing an additional 100 shares during the period. LS Investment Advisors LLC boosted its holdings in Glacier Bancorp by 4.9% in the 2nd quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after purchasing an additional 134 shares during the period. Finally, Amalgamated Bank boosted its holdings in Glacier Bancorp by 1.9% in the 2nd quarter. Amalgamated Bank now owns 10,526 shares of the bank’s stock valued at $385,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 80.86% 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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