Glacier Bancorp (NASDAQ:GBCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $43.00 target price on the bank’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.67% from the company’s previous close.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Other research analysts have also recently issued reports about the company. SunTrust Banks reissued a “buy” rating and issued a $43.00 target price on shares of Glacier Bancorp in a research report on Tuesday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $41.00 target price on shares of Glacier Bancorp in a research report on Friday, December 22nd. BidaskClub cut Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, December 8th. Finally, Piper Jaffray Companies set a $38.00 target price on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $41.25.
Glacier Bancorp (NASDAQ GBCI) opened at $39.21 on Tuesday. The stock has a market capitalization of $3,000.00, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a 12-month low of $31.38 and a 12-month high of $41.23.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $120.00 million for the quarter, compared to analysts’ expectations of $121.07 million. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. equities analysts anticipate that Glacier Bancorp will post 1.77 EPS for the current fiscal year.
In other news, Director Michael J. Blodnick sold 45,060 shares of Glacier Bancorp stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $37.88, for a total transaction of $1,706,872.80. Following the transaction, the director now directly owns 27,576 shares of the company’s stock, valued at approximately $1,044,578.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Don J. Chery sold 12,000 shares of Glacier Bancorp stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $38.29, for a total value of $459,480.00. Following the transaction, the insider now directly owns 30,270 shares in the company, valued at $1,159,038.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,398 shares of company stock worth $3,138,825. Insiders own 0.65% of the company’s stock.
Several hedge funds have recently bought and sold shares of GBCI. Schwab Charles Investment Management Inc. raised its stake in Glacier Bancorp by 2.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock valued at $14,494,000 after purchasing an additional 9,858 shares during the period. Victory Capital Management Inc. raised its stake in Glacier Bancorp by 8.1% during the 2nd quarter. Victory Capital Management Inc. now owns 18,705 shares of the bank’s stock valued at $685,000 after purchasing an additional 1,399 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Glacier Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock valued at $116,000 after purchasing an additional 283 shares during the period. Swiss National Bank raised its stake in Glacier Bancorp by 2.0% during the 2nd quarter. Swiss National Bank now owns 128,500 shares of the bank’s stock valued at $4,704,000 after purchasing an additional 2,500 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in Glacier Bancorp by 42.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,227 shares of the bank’s stock valued at $776,000 after purchasing an additional 6,359 shares during the period. 81.57% of the stock is currently owned by hedge funds and other institutional investors.
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Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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