Zacks Investment Research upgraded shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $66.00 price target on the bank’s stock.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Separately, Stephens started coverage on Glacier Bancorp in a research note on Friday, February 19th. They issued an equal weight rating on the stock. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Glacier Bancorp has a consensus rating of Buy and an average target price of $47.33.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Wednesday, January 27th. The bank reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. The company had revenue of $210.46 million for the quarter, compared to analysts’ expectations of $199.34 million. Glacier Bancorp had a return on equity of 11.31% and a net margin of 31.94%. On average, sell-side analysts expect that Glacier Bancorp will post 2.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 22nd. Investors of record on Tuesday, April 13th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Monday, April 12th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.30. Glacier Bancorp’s dividend payout ratio is 50.42%.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Glacier Bancorp by 4.6% during the fourth quarter. BlackRock Inc. now owns 11,530,081 shares of the bank’s stock worth $530,499,000 after purchasing an additional 511,842 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Glacier Bancorp by 0.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,930,877 shares of the bank’s stock worth $88,840,000 after purchasing an additional 6,341 shares during the last quarter. Norges Bank purchased a new position in shares of Glacier Bancorp during the fourth quarter worth about $53,453,000. Eaton Vance Management grew its holdings in shares of Glacier Bancorp by 41.6% during the fourth quarter. Eaton Vance Management now owns 1,000,306 shares of the bank’s stock worth $46,024,000 after purchasing an additional 293,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Glacier Bancorp by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 830,142 shares of the bank’s stock worth $38,195,000 after purchasing an additional 8,689 shares during the last quarter. 68.09% of the stock is currently owned by hedge funds and other institutional investors.
About Glacier Bancorp
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. 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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