Glacier Bancorp (NASDAQ:GBCI) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a sell rating in a research report released on Thursday morning, BidAskClub reports.

Other research analysts also recently issued research reports about the company. SunTrust Banks set a $75.00 price target on Cimarex Energy and gave the company a hold rating in a report on Tuesday, April 23rd. Zacks Investment Research upgraded General Moly from a sell rating to a hold rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Glacier Bancorp has an average rating of Hold and an average price target of $43.75.

GBCI opened at $39.15 on Thursday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.61 and a beta of 1.18. The business has a 50-day moving average of $39.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.84. Glacier Bancorp has a 12 month low of $36.84 and a 12 month high of $47.67.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm had revenue of $151.13 million for the quarter, compared to the consensus estimate of $151.63 million. Glacier Bancorp had a return on equity of 13.38% and a net margin of 31.97%. Analysts expect that Glacier Bancorp will post 2.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Monday, July 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.26. Glacier Bancorp’s payout ratio is currently 49.77%.

In related news, Director David C. Boyles sold 25,399 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $40.32, for a total transaction of $1,024,087.68. Following the transaction, the director now owns 1,218 shares in the company, valued at approximately $49,109.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.59% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Glacier Bancorp by 10.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,371 shares of the bank’s stock worth $292,000 after acquiring an additional 691 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Glacier Bancorp by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,158 shares of the bank’s stock worth $90,022,000 after acquiring an additional 24,482 shares in the last quarter. California State Teachers Retirement System raised its stake in Glacier Bancorp by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 133,103 shares of the bank’s stock worth $5,274,000 after acquiring an additional 3,154 shares in the last quarter. Geode Capital Management LLC raised its stake in Glacier Bancorp by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 963,015 shares of the bank’s stock worth $38,153,000 after acquiring an additional 95,121 shares in the last quarter. Finally, Brinker Capital Inc. raised its stake in Glacier Bancorp by 6.1% during the fourth quarter. Brinker Capital Inc. now owns 18,985 shares of the bank’s stock worth $752,000 after acquiring an additional 1,085 shares in the last quarter. Institutional investors own 77.36% of the company’s stock.

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 non-interest bearing deposit and interest bearing deposit accounts, such as 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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