Truist Financial Trims Glacier Bancorp (NASDAQ:GBCI) Target Price to $42.00

Glacier Bancorp (NASDAQ:GBCIFree Report) had its price target cut by Truist Financial from $45.00 to $42.00 in a research note released on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

GBCI has been the topic of several other research reports. Raymond James upped their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the company an outperform rating in a research note on Friday, January 5th. StockNews.com raised Glacier Bancorp to a sell rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $37.80.

View Our Latest Report on Glacier Bancorp

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $37.79 on Monday. Glacier Bancorp has a one year low of $26.77 and a one year high of $44.06. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 18.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $38.23 and its 200-day moving average is $35.92.

Glacier Bancorp (NASDAQ:GBCIGet Free Report) last released its earnings results on Friday, January 26th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.08. The business had revenue of $197.32 million for the quarter, compared to analyst estimates of $198.32 million. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. Glacier Bancorp’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities analysts predict that Glacier Bancorp will post 1.83 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, April 8th. Glacier Bancorp’s dividend payout ratio is presently 65.67%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Morgan Stanley raised its position in Glacier Bancorp by 150.3% during the 4th quarter. Morgan Stanley now owns 1,517,289 shares of the bank’s stock worth $74,984,000 after purchasing an additional 911,001 shares during the last quarter. Cooke & Bieler LP grew its holdings in Glacier Bancorp by 34.0% during the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after acquiring an additional 821,199 shares during the period. Norges Bank acquired a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $32,617,000. Envestnet Asset Management Inc. grew its stake in shares of Glacier Bancorp by 361.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock valued at $25,724,000 after buying an additional 706,833 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Glacier Bancorp by 124.7% in the 4th quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank’s stock valued at $49,622,000 after buying an additional 666,478 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Company Profile

(Get Free Report)

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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.

See Also

Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.