Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their hold rating on shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in a research note issued to investors on Thursday morning. Keefe, Bruyette & Woods currently has a $36.00 target price on the bank’s stock.
GBCI has been the topic of several other reports. Piper Jaffray Companies reiterated a hold rating and set a $37.00 price target on shares of Glacier Bancorp in a research report on Wednesday, July 12th. BidaskClub upgraded Glacier Bancorp from a hold rating to a buy rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research cut Glacier Bancorp from a buy rating to a hold rating in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Glacier Bancorp presently has a consensus rating of Hold and an average target price of $37.67.
Glacier Bancorp (NASDAQ:GBCI) traded up 1.84% during trading on Thursday, reaching $34.92. 281,607 shares of the company’s stock traded hands. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 21.16 and a beta of 1.45. The company’s 50 day moving average is $35.93 and its 200-day moving average is $34.89. Glacier Bancorp has a 52-week low of $25.90 and a 52-week high of $38.17.
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 company had revenue of $113.91 million for the quarter, compared to the consensus estimate of $115.60 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, analysts anticipate that Glacier Bancorp will post $1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 12th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Monday, July 10th. Glacier Bancorp’s dividend payout ratio is presently 50.91%.
In other news, Director James M. English sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total transaction of $91,625.00. Following the sale, the director now directly owns 20,181 shares in the company, valued at $739,633.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.65% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its position in Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after buying an additional 134 shares during the period. Woodstock Corp bought a new position in Glacier Bancorp during the second quarter valued at $211,000. Koch Industries Inc. bought a new position in Glacier Bancorp during the first quarter valued at $218,000. Stratos Wealth Partners LTD. bought a new position in Glacier Bancorp during the first quarter valued at $239,000. Finally, Strs Ohio boosted its position in Glacier Bancorp by 23.6% in the second quarter. Strs Ohio now owns 6,800 shares of the bank’s stock valued at $248,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors own 78.53% 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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