BidaskClub Downgrades Glacier Bancorp (GBCI) to Hold

Glacier Bancorp (NASDAQ:GBCI) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

GBCI has been the subject of a number of other reports. Zacks Investment Research cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Keefe, Bruyette & Woods set a $36.00 price target on shares of Glacier Bancorp and gave the company a “hold” rating in a research report on Monday, August 28th. Piper Jaffray Companies set a $38.00 price target on shares of Glacier Bancorp and gave the company a “hold” rating in a research report on Saturday, October 21st. Finally, SunTrust Banks set a $41.00 price target on shares of Glacier Bancorp and gave the company a “buy” rating in a research report on Saturday, October 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $38.67.

Glacier Bancorp (NASDAQ GBCI) opened at $38.04 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a 52 week low of $31.38 and a 52 week high of $41.23. The company has a market cap of $2,967.39, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Glacier Bancorp had a net margin of 27.69% and a return on equity of 11.35%. The company had revenue of $120.00 million for the quarter, compared to the consensus estimate of $121.07 million. equities analysts predict that Glacier Bancorp will post 1.77 EPS for the current fiscal year.

In related news, Director Michael J. Blodnick sold 45,060 shares of Glacier Bancorp stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $37.88, for a total value of $1,706,872.80. Following the completion of the transaction, the director now owns 27,576 shares in the company, valued at $1,044,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Blodnick sold 25,338 shares of Glacier Bancorp stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $38.38, for a total transaction of $972,472.44. Following the completion of the transaction, the director now owns 25,497 shares of the company’s stock, valued at approximately $978,574.86. The disclosure for this sale can be found here. Insiders sold 82,398 shares of company stock valued at $3,138,825 in the last 90 days. Company insiders own 0.65% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC grew its holdings in shares of Glacier Bancorp by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 160,380 shares of the bank’s stock valued at $6,056,000 after purchasing an additional 4,399 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Glacier Bancorp by 1.5% in the second quarter. California Public Employees Retirement System now owns 180,500 shares of the bank’s stock valued at $6,608,000 after purchasing an additional 2,600 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Glacier Bancorp by 7.5% in the second quarter. Northern Trust Corp now owns 1,375,756 shares of the bank’s stock valued at $50,366,000 after purchasing an additional 96,330 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Glacier Bancorp by 6.0% in the second quarter. Teachers Advisors LLC now owns 137,408 shares of the bank’s stock valued at $5,031,000 after purchasing an additional 7,746 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Glacier Bancorp by 2.6% in the second 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 in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.

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About Glacier Bancorp

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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