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. 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, 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

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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.

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