Glacier Bancorp Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Separately, FIG Partners downgraded Glacier Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.25.
Glacier Bancorp (NASDAQ:GBCI) traded down 2.86% during mid-day trading on Monday, reaching $33.96. The company had a trading volume of 398,194 shares. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 21.63 and a beta of 1.34. Glacier Bancorp has a 12 month low of $21.90 and a 12 month high of $34.97. The firm’s 50 day moving average price is $29.99 and its 200-day moving average price is $28.23.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.02. Glacier Bancorp had a return on equity of 10.77% and a net margin of 26.97%. Equities research analysts anticipate that Glacier Bancorp will post $1.60 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, December 2nd. Glacier Bancorp’s payout ratio is currently 50.96%.
In other news, Director Craig A. Langel sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $33.28, for a total value of $99,840.00. Following the completion of the sale, the director now directly owns 59,729 shares of the company’s stock, valued at approximately $1,987,781.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in Glacier Bancorp by 122.5% in the second quarter. BNP Paribas Arbitrage SA now owns 24,310 shares of the company’s stock valued at $646,000 after buying an additional 13,382 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in Glacier Bancorp by 213.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 992,736 shares of the company’s stock valued at $26,387,000 after buying an additional 675,519 shares in the last quarter. Front Street Capital Management Inc. bought a new stake in Glacier Bancorp during the second quarter valued at approximately $238,000. Virginia Retirement Systems ET AL bought a new stake in Glacier Bancorp during the second quarter valued at approximately $1,356,000. Finally, Glenmede Trust Co. NA increased its stake in Glacier Bancorp by 2,469.0% in the second quarter. Glenmede Trust Co. NA now owns 9,865 shares of the company’s stock valued at $262,000 after buying an additional 9,481 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.