Glacier Bancorp (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 issued on Wednesday.

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

A number of other brokerages have also recently issued reports on GBCI. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.00 target price on shares of Glacier Bancorp in a report on Friday, December 22nd. SunTrust Banks reissued a “buy” rating and set a $42.00 target price on shares of Glacier Bancorp in a report on Wednesday, November 29th. Finally, Piper Jaffray Companies set a $38.00 target price on shares of Glacier Bancorp and gave the company a “hold” rating in a report on Saturday, October 21st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.25.

Glacier Bancorp (NASDAQ GBCI) traded down $0.11 during trading on Wednesday, reaching $38.67. The company had a trading volume of 342,600 shares, compared to its average volume of 290,067. Glacier Bancorp has a fifty-two week low of $31.38 and a fifty-two week high of $41.23. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3,000.00, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. The business had revenue of $120.00 million for the quarter, compared to the consensus estimate of $121.07 million. equities analysts anticipate that Glacier Bancorp will post 1.77 earnings per share for the current year.

In other news, Director Michael J. Blodnick sold 25,338 shares of the company’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 transaction, the director now owns 25,497 shares of the company’s stock, valued at $978,574.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Don J. Chery sold 12,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.29, for a total transaction of $459,480.00. Following the completion of the transaction, the insider now directly owns 30,270 shares in the company, valued at approximately $1,159,038.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,398 shares of company stock worth $3,138,825. Insiders own 0.65% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Glacier Bancorp by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock worth $116,000 after acquiring an additional 283 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Glacier Bancorp by 34.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock worth $135,000 after acquiring an additional 947 shares in the last quarter. Advisor Group Inc. grew its position in Glacier Bancorp by 23.7% in the second quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock worth $142,000 after acquiring an additional 744 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Glacier Bancorp in the second quarter worth $183,000. Finally, GWM Advisors LLC purchased a new position in Glacier Bancorp in the second quarter worth $199,000. 81.57% of the stock is currently owned by hedge funds and other institutional investors.

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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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