Truist Financial Boosts Glacier Bancorp (NASDAQ:GBCI) Price Target to $50.00

Glacier Bancorp (NASDAQ:GBCI) had its target price boosted by research analysts at Truist Financial from $46.00 to $50.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would indicate a potential upside of 6.68% from the company’s previous close.

GBCI has been the subject of several other reports. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price target on shares of Glacier Bancorp in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.80.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI traded down $0.59 during mid-day trading on Friday, hitting $46.87. 491,987 shares of the company’s stock traded hands, compared to its average volume of 650,243. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a 1 year low of $26.83 and a 1 year high of $47.71. The company’s 50-day moving average is $43.92 and its two-hundred day moving average is $39.77. The company has a market capitalization of $5.31 billion, a P/E ratio of 26.78 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $306.04 million for the quarter, compared to the consensus estimate of $204.43 million. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. During the same period in the prior year, the business posted $0.50 earnings per share. On average, equities analysts anticipate that Glacier Bancorp will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total value of $250,326.45. Following the transaction, the director now directly owns 9,402 shares in the company, valued at approximately $418,859.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the completion of the sale, the chief accounting officer now directly owns 52,539 shares in the company, valued at $2,389,999.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now owns 9,402 shares in the company, valued at $418,859.10. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glacier Bancorp

Several large investors have recently modified their holdings of GBCI. Norges Bank purchased a new position in Glacier Bancorp during the fourth quarter valued at approximately $32,617,000. Capital Research Global Investors raised its position in shares of Glacier Bancorp by 60.3% in the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after acquiring an additional 724,089 shares in the last quarter. Capital International Investors lifted its stake in shares of Glacier Bancorp by 45.1% during the 4th quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after purchasing an additional 566,513 shares during the last quarter. Clifford Capital Partners LLC boosted its position in Glacier Bancorp by 2,389.9% during the first quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock valued at $12,088,000 after purchasing an additional 288,056 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after purchasing an additional 271,398 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

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.