Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $56.00.

GBCI has been the topic of a number of research reports. Piper Sandler dropped their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Raymond James reaffirmed an "outperform" rating and issued a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Finally, Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $40.81 on Friday. Glacier Bancorp has a 52 week low of $34.48 and a 52 week high of $60.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $4.63 billion, a PE ratio of 24.44 and a beta of 0.80. The company's 50 day moving average price is $43.58 and its 200 day moving average price is $49.11.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp's dividend payout ratio is 79.04%.

Institutional Investors Weigh In On Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Norges Bank bought a new position in shares of Glacier Bancorp in the fourth quarter valued at approximately $56,923,000. Madison Investment Advisors LLC bought a new position in Glacier Bancorp in the 4th quarter worth $47,770,000. Millennium Management LLC lifted its position in Glacier Bancorp by 4,600.1% during the 4th quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock worth $47,010,000 after acquiring an additional 916,163 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Glacier Bancorp by 76.0% during the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after acquiring an additional 242,414 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Glacier Bancorp during the fourth quarter valued at about $9,544,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

About Glacier Bancorp

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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