Glacier Bancorp (NASDAQ:GBCI) Price Target Raised to $45.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective increased by Piper Sandler from $42.00 to $45.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other equities analysts also recently issued reports on GBCI. Truist Financial raised their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday. Raymond James raised their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $52.04 on Monday. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 31.73 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $45.82 and a 200 day simple moving average of $41.25. Glacier Bancorp has a one year low of $29.35 and a one year high of $52.14.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same quarter last year, the firm earned $0.47 earnings per share. Research analysts predict that Glacier Bancorp will post 1.63 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.

Insider Transactions at Glacier Bancorp

In other news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction on Wednesday, July 31st. The shares were 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 in the company, valued at $418,859.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glacier Bancorp

A number of large investors have recently bought and sold shares of GBCI. Allspring Global Investments Holdings LLC acquired a new stake in Glacier Bancorp in the first quarter worth $25,000. State of Michigan Retirement System grew its holdings in Glacier Bancorp by 2.3% in the first quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock worth $1,097,000 after purchasing an additional 600 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in Glacier Bancorp by 0.6% in the first quarter. Ashton Thomas Private Wealth LLC now owns 254,299 shares of the bank’s stock worth $10,243,000 after purchasing an additional 1,610 shares during the period. Retirement Systems of Alabama grew its holdings in Glacier Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock worth $5,609,000 after purchasing an additional 370 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Glacier Bancorp by 69.8% in the first quarter. BNP Paribas Financial Markets now owns 59,965 shares of the bank’s stock worth $2,415,000 after purchasing an additional 24,653 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Company Profile

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.