Glacier Bancorp, Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
GBCI has been the subject of several other reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 target price on shares of Glacier Bancorp in a research note on Friday, September 29th. Piper Jaffray Companies reiterated a “hold” rating and issued a $37.00 target price on shares of Glacier Bancorp in a research note on Wednesday, July 12th. SunTrust Banks, Inc. set a $41.00 target price on shares of Glacier Bancorp and gave the company a “buy” rating in a research note on Saturday, October 21st. Finally, BidaskClub downgraded shares of Glacier Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $38.33.
Shares of Glacier Bancorp (NASDAQ:GBCI) traded down $0.45 during midday trading on Friday, hitting $37.95. The stock had a trading volume of 269,039 shares, compared to its average volume of 323,387. The company has a market cap of $2,960.37, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.13 and a beta of 1.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a 12 month low of $27.31 and a 12 month high of $38.49.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.47 earnings per share for the quarter, meeting the Thomson Reuters’ 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%. sell-side analysts anticipate that Glacier Bancorp will post 1.78 earnings per share for the current fiscal year.
In other Glacier Bancorp news, Director Michael J. Blodnick sold 45,060 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were 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 directly owns 27,576 shares in the company, valued at $1,044,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.65% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBCI. LS Investment Advisors LLC raised its position in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Glacier Bancorp by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock valued at $116,000 after buying an additional 283 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Glacier Bancorp by 34.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock valued at $135,000 after buying an additional 947 shares in the last quarter. Advisor Group Inc. raised its position in shares of Glacier Bancorp by 23.7% in the second quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock valued at $142,000 after buying an additional 744 shares in the last quarter. Finally, Fiduciary Trust Co. acquired a new stake in shares of Glacier Bancorp in the second quarter valued at approximately $183,000. Institutional investors own 81.17% of the company’s stock.
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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