Glacier Bancorp, Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, November 3rd.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Several other brokerages have also issued reports on GBCI. SunTrust Banks, Inc. set a $41.00 target price on Glacier Bancorp and gave the company a “buy” rating in a research report on Saturday, October 21st. Piper Jaffray Companies set a $38.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a report on Saturday, October 21st. BidaskClub downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $36.00 target price on shares of Glacier Bancorp in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Glacier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $38.33.
Shares of Glacier Bancorp (GBCI) traded up $0.05 during mid-day trading on Friday, hitting $36.06. The company’s stock had a trading volume of 266,100 shares, compared to its average volume of 339,470. Glacier Bancorp has a twelve month low of $30.88 and a twelve month high of $38.49. The stock has a market cap of $2,812.93, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.03 and a beta of 1.45. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.24.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. The firm had revenue of $120.00 million during the quarter, compared to analyst estimates of $121.07 million. analysts forecast that Glacier Bancorp will post 1.78 EPS for the current fiscal year.
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In other Glacier Bancorp news, Director Michael J. Blodnick sold 45,060 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 27,576 shares of the company’s stock, valued at $1,044,578.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of GBCI. BlackRock Inc. increased its stake in Glacier Bancorp by 50,940.2% during the first quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock worth $327,084,000 after acquiring an additional 9,621,084 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Glacier Bancorp by 2,008.0% during the second quarter. Franklin Resources Inc. now owns 1,355,443 shares of the bank’s stock worth $49,623,000 after buying an additional 1,291,143 shares during the period. State Street Corp boosted its position in shares of Glacier Bancorp by 25.8% during the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock worth $101,899,000 after buying an additional 615,216 shares during the period. Denver Investment Advisors LLC purchased a new position in shares of Glacier Bancorp during the second quarter worth $18,631,000. Finally, Koch Industries Inc. boosted its position in shares of Glacier Bancorp by 6,383.5% during the second quarter. Koch Industries Inc. now owns 415,853 shares of the bank’s stock worth $405,000 after buying an additional 409,439 shares during the period. 81.16% of the stock is owned by institutional investors.
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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