The Glacier Bancorp, Inc. (GBCI) Cut to Hold at Zacks Investment Research

The Glacier Bancorp, Inc. (GBCI) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) from a buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “

Shares of Glacier Bancorp (NASDAQ:GBCI) opened at 34.12 on Friday. The company has a market cap of $2.61 billion, a P/E ratio of 21.73 and a beta of 1.44. Glacier Bancorp has a 12 month low of $21.90 and a 12 month high of $37.87. The company’s 50 day moving average is $35.95 and its 200-day moving average is $30.60.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Glacier Bancorp had a return on equity of 10.77% and a net margin of 26.97%. Analysts expect that Glacier Bancorp will post $1.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 19th. Investors of record on Tuesday, January 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, January 6th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 3.52%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 50.96%.

In related news, CEO Michael J. Blodnick sold 100,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $36.91, for a total value of $3,691,000.00. Following the transaction, the chief executive officer now directly owns 104,543 shares in the company, valued at approximately $3,858,682.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Murdoch sold 2,869 shares of the firm’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $37.43, for a total transaction of $107,386.67. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC raised its position in Glacier Bancorp by 0.7% in the third quarter. HighTower Advisors LLC now owns 13,985 shares of the company’s stock worth $399,000 after buying an additional 97 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Glacier Bancorp by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 55,784 shares of the company’s stock worth $1,483,000 after buying an additional 166 shares during the last quarter. Capstone Asset Management Co. raised its position in Glacier Bancorp by 1.1% in the third quarter. Capstone Asset Management Co. now owns 21,949 shares of the company’s stock worth $626,000 after buying an additional 230 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Glacier Bancorp by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 16,910 shares of the company’s stock worth $482,000 after buying an additional 280 shares during the last quarter. Finally, Aperio Group LLC raised its position in Glacier Bancorp by 2.0% in the third quarter. Aperio Group LLC now owns 15,809 shares of the company’s stock worth $451,000 after buying an additional 313 shares during the last quarter. Institutional investors and hedge funds own 76.22% 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.

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