Glacier Bancorp (NASDAQ:GBCI) PT Raised to $48.00 at Raymond James

Glacier Bancorp (NASDAQ:GBCI) had its price target raised by research analysts at Raymond James from $45.00 to $48.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Raymond James’ target price suggests a potential upside of 7.70% from the company’s current price.

Other research analysts also recently issued research reports about the company. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. Truist Financial increased their target price on Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Piper Sandler reiterated a “neutral” rating and set a $38.00 price target on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus target price of $44.20.

Glacier Bancorp Stock Up 1.1 %

Shares of NASDAQ GBCI traded up $0.48 on Wednesday, hitting $44.57. The company had a trading volume of 159,503 shares, compared to its average volume of 653,029. Glacier Bancorp has a 12-month low of $27.36 and a 12-month high of $47.71. The business has a 50 day moving average of $44.28 and a two-hundred day moving average of $40.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $5.05 billion, a P/E ratio of 25.50 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $306.04 million during 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 quarter in the prior year, the business posted $0.50 earnings per share. As a group, equities research analysts forecast that Glacier Bancorp will post 1.62 earnings per share for the current fiscal year.

Insider Transactions at Glacier Bancorp

In other news, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the completion of the sale, the director now directly owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the firm’s 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 directly owns 9,402 shares in the company, valued at $418,859.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the chief accounting officer now owns 52,539 shares in the company, valued at $2,389,999.11. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors have recently added to or reduced their stakes in GBCI. Wells Fargo & Company MN raised its position in shares of Glacier Bancorp by 3.7% during the 4th quarter. Wells Fargo & Company MN now owns 180,128 shares of the bank’s stock valued at $7,443,000 after acquiring an additional 6,502 shares during the last quarter. US Bancorp DE grew its holdings in shares of Glacier Bancorp by 23.7% in the 4th quarter. US Bancorp DE now owns 15,792 shares of the bank’s stock valued at $653,000 after buying an additional 3,022 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Glacier Bancorp by 31.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,006 shares of the bank’s stock valued at $331,000 after buying an additional 1,918 shares during the period. Eagle Asset Management Inc. boosted its stake in Glacier Bancorp by 45.6% in the 4th quarter. Eagle Asset Management Inc. now owns 64,868 shares of the bank’s stock worth $2,680,000 after purchasing an additional 20,312 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in Glacier Bancorp by 46.7% in the 4th quarter. Rafferty Asset Management LLC now owns 167,238 shares of the bank’s stock worth $6,910,000 after purchasing an additional 53,222 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

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.