Glacier Bancorp (NASDAQ:GBCI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
Several other research firms have also recently issued reports on GBCI. ValuEngine upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Zacks Investment Research cut shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Piper Jaffray Companies reiterated a “hold” rating and set a $44.00 price objective on shares of Glacier Bancorp in a research report on Monday, July 23rd. Finally, Sandler O’Neill reiterated a “hold” rating and set a $44.00 price objective on shares of Glacier Bancorp in a research report on Friday, July 20th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $43.33.
Glacier Bancorp stock opened at $45.52 on Friday. The company has a market cap of $3.85 billion, a PE ratio of 26.01, a P/E/G ratio of 2.07 and a beta of 1.43. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37. Glacier Bancorp has a 1 year low of $33.00 and a 1 year high of $46.28.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $140.38 million for the quarter, compared to the consensus estimate of $135.74 million. Glacier Bancorp had a net margin of 25.31% and a return on equity of 11.56%. During the same quarter in the previous year, the business earned $0.43 EPS. analysts anticipate that Glacier Bancorp will post 2.2 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of GBCI. BlackRock Inc. grew its holdings in shares of Glacier Bancorp by 9.6% in the second quarter. BlackRock Inc. now owns 11,832,235 shares of the bank’s stock valued at $457,672,000 after purchasing an additional 1,032,929 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Glacier Bancorp in the second quarter valued at $28,939,000. Carillon Tower Advisers Inc. purchased a new position in shares of Glacier Bancorp in the second quarter valued at $26,929,000. Segall Bryant & Hamill LLC purchased a new position in shares of Glacier Bancorp in the second quarter valued at $22,081,000. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of Glacier Bancorp by 20.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,022,253 shares of the bank’s stock valued at $77,614,000 after purchasing an additional 340,775 shares in the last quarter. 82.21% of the stock is owned by hedge funds and other institutional investors.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc operates as the 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. It offers deposit products, including non-interest bearing deposits, interest bearing negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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