Glacier Bancorp (NASDAQ:GBCI) Upgraded by Stephens to Overweight Rating

Stephens upgraded shares of Glacier Bancorp (NASDAQ:GBCI) from an equal weight rating to an overweight rating in a research report sent to investors on Friday, Marketbeat Ratings reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James restated an “outperform” rating and issued a $55.00 price target (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Keefe, Bruyette & Woods raised their target price on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial boosted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Piper Sandler cut their price target on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.50.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $50.79 on Friday. The firm has a 50 day moving average of $51.70 and a 200-day moving average of $49.07. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 30.37 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp has a 52 week low of $34.35 and a 52 week high of $60.67.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is currently 79.04%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Glacier Bancorp by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after acquiring an additional 41,160 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Glacier Bancorp by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after purchasing an additional 280,255 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Glacier Bancorp by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after purchasing an additional 49,006 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Glacier Bancorp by 0.4% during the third quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after purchasing an additional 6,394 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Glacier Bancorp by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock worth $59,988,000 after purchasing an additional 52,566 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Company Profile

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.