Piper Jaffray Companies Reiterates “$38.00” Price Target for Glacier Bancorp, Inc. (GBCI)
A number of other research firms have also recently issued reports on GBCI. Zacks Investment Research raised Glacier Bancorp from a hold rating to a buy rating and set a $38.00 price objective for the company in a research report on Monday, April 3rd. BidaskClub upgraded Glacier Bancorp from a sell rating to a hold rating in a research note on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods set a $36.00 target price on Glacier Bancorp and gave the stock a hold rating in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has an average rating of Hold and an average price target of $37.67.
Glacier Bancorp (GBCI) opened at 35.20 on Friday. The company has a 50 day moving average price of $35.84 and a 200-day moving average price of $34.89. Glacier Bancorp has a 52 week low of $25.90 and a 52 week high of $38.17. The company has a market capitalization of $2.75 billion, a P/E ratio of 21.33 and a beta of 1.45.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the 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 analyst estimates of $115.60 million. During the same period last year, the company posted $0.40 earnings per share. On average, equities analysts anticipate that Glacier Bancorp will post $1.79 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 12th were paid a $0.21 dividend. The ex-dividend date was Monday, July 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.39%. Glacier Bancorp’s payout ratio is 50.91%.
In other news, Director James M. English sold 2,500 shares of Glacier Bancorp stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total value of $91,625.00. Following the transaction, the director now owns 20,181 shares in the company, valued at approximately $739,633.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Glacier Bancorp by 50,940.2% in the first quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock valued at $327,084,000 after buying an additional 9,621,084 shares during the period. Neuberger Berman Group LLC increased its stake in Glacier Bancorp by 162.7% in the first quarter. Neuberger Berman Group LLC now owns 1,408,314 shares of the bank’s stock valued at $47,784,000 after buying an additional 872,126 shares during the period. State Street Corp increased its stake in Glacier Bancorp by 25.8% in the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock valued at $101,899,000 after buying an additional 615,216 shares during the period. Norges Bank purchased a new stake in Glacier Bancorp during the fourth quarter valued at $20,198,000. Finally, Vanguard Group Inc. increased its stake in Glacier Bancorp by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock valued at $239,402,000 after buying an additional 381,855 shares during the period. 78.53% of the stock is currently owned by institutional investors.
About Glacier Bancorp
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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