Zacks Investment Research upgraded shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $43.00 price objective on the bank’s stock.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Other equities analysts also recently issued reports about the company. BidaskClub upgraded Glacier Bancorp from a hold rating to a buy rating in a research note on Saturday, December 2nd. SunTrust Banks reiterated a buy rating and issued a $42.00 price target on shares of Glacier Bancorp in a research note on Wednesday, November 29th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $41.00 price target on shares of Glacier Bancorp in a research note on Friday, December 22nd. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the stock a hold rating in a research note on Saturday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $41.25.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. The business had revenue of $120.00 million during the quarter, compared to the consensus estimate of $121.07 million. Glacier Bancorp had a return on equity of 12.11% and a net margin of 30.40%. analysts expect that Glacier Bancorp will post 1.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Tuesday, December 5th were paid a $0.21 dividend. The ex-dividend date was Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.11%. Glacier Bancorp’s dividend payout ratio (DPR) is 49.12%.
In other Glacier Bancorp news, Director Michael J. Blodnick sold 25,338 shares of Glacier Bancorp stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $38.38, for a total value of $972,472.44. Following the completion of the transaction, the director now directly owns 25,497 shares in the company, valued at $978,574.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Don J. Chery sold 12,000 shares of Glacier Bancorp stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $38.29, for a total value of $459,480.00. Following the completion of the transaction, the insider now owns 30,270 shares of the company’s stock, valued at $1,159,038.30. The disclosure for this sale can be found here. Insiders sold 82,398 shares of company stock valued at $3,138,825 over the last quarter. Insiders own 0.65% of the company’s stock.
A number of hedge funds have recently modified their holdings of GBCI. Schwab Charles Investment Management Inc. boosted its stake in Glacier Bancorp by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock valued at $14,494,000 after acquiring an additional 9,858 shares during the period. Victory Capital Management Inc. boosted its stake in Glacier Bancorp by 8.1% in the second quarter. Victory Capital Management Inc. now owns 18,705 shares of the bank’s stock valued at $685,000 after acquiring an additional 1,399 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 acquiring an additional 283 shares during the period. Swiss National Bank boosted its stake in Glacier Bancorp by 2.0% in the second quarter. Swiss National Bank now owns 128,500 shares of the bank’s stock valued at $4,704,000 after acquiring an additional 2,500 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Glacier Bancorp by 42.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 21,227 shares of the bank’s stock worth $776,000 after buying an additional 6,359 shares during the period. Institutional investors own 81.57% 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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