Glacier Bancorp (NASDAQ:GBCI) Stock Rating Lowered by Zacks Investment Research

Glacier Bancorp (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, February 13th.

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

GBCI has been the subject of a number of other reports. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Piper Jaffray Companies set a $38.00 price objective on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, October 21st. SunTrust Banks reiterated a “buy” rating and issued a $43.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $41.00 price objective on shares of Glacier Bancorp in a research report on Friday, December 22nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.25.

Glacier Bancorp (NASDAQ GBCI) traded up $0.45 during midday trading on Tuesday, reaching $40.43. The company had a trading volume of 395,800 shares, compared to its average volume of 315,329. Glacier Bancorp has a 12 month low of $31.38 and a 12 month high of $41.23. The firm has a market cap of $3,118.72, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.78 and a beta of 1.38. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, January 25th. The bank reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $117.54 million for the quarter, compared to analyst estimates of $122.23 million. Glacier Bancorp had a net margin of 23.88% and a return on equity of 11.46%. equities analysts anticipate that Glacier Bancorp will post 2.25 EPS for the current fiscal year.

In other Glacier Bancorp news, insider Don J. Chery sold 12,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.29, for a total value of $459,480.00. Following the sale, the insider now directly owns 30,270 shares in the company, valued at $1,159,038.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Blodnick sold 25,338 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $38.38, for a total value of $972,472.44. Following the completion of the sale, the director now owns 25,497 shares in the company, valued at $978,574.86. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Advisor Group Inc. grew its holdings in shares of Glacier Bancorp by 23.7% during the second quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock worth $142,000 after buying an additional 744 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Glacier Bancorp by 34.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock valued at $135,000 after purchasing an additional 947 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Glacier Bancorp by 45.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,627 shares of the bank’s stock valued at $182,000 after purchasing an additional 1,454 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Glacier Bancorp by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 24,626 shares of the bank’s stock valued at $970,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Glacier Bancorp by 0.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 333,049 shares of the bank’s stock valued at $13,119,000 after purchasing an additional 1,594 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

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About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of January 26, 2018, it provided banking services from 146 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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