Glacier Bancorp Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Separately, FIG Partners lowered Glacier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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 stock has a 50 day moving average price of $29.99 and a 200-day moving average price of $28.23. Glacier Bancorp has a 12-month low of $21.90 and a 12-month high of $34.97. The stock has a market capitalization of $2.60 billion, a P/E ratio of 21.63 and a beta of 1.34.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.02. Glacier Bancorp had a net margin of 26.97% and a return on equity of 10.77%. Equities analysts anticipate that Glacier Bancorp will post $1.60 EPS for the current fiscal 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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, December 2nd. Glacier Bancorp’s dividend payout ratio is currently 50.96%.
In related news, insider Don J. Chery sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $33.26, for a total value of $99,780.00. Following the sale, the insider now owns 40,166 shares in the company, valued at approximately $1,335,921.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.09% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. increased its stake in Glacier Bancorp by 15.3% in the third quarter. D.A. Davidson & CO. now owns 22,244 shares of the company’s stock valued at $633,000 after buying an additional 2,957 shares during the last quarter. Credit Suisse AG increased its stake in Glacier Bancorp by 8.2% in the third quarter. Credit Suisse AG now owns 67,740 shares of the company’s stock valued at $1,932,000 after buying an additional 5,106 shares during the last quarter. Verition Fund Management LLC bought a new stake in Glacier Bancorp during the third quarter valued at $356,000. D. E. Shaw & Co. Inc. bought a new stake in Glacier Bancorp during the third quarter valued at $282,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Glacier Bancorp during the third quarter valued at $49,268,000. Institutional investors own 76.26% of the company’s stock.
Glacier Bancorp Company Profile
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.