Glacier Bancorp (NASDAQ:GBCI) Stock Price Expected to Rise, Truist Financial Analyst Says

Glacier Bancorp (NASDAQ:GBCI) had its target price hoisted by Truist Financial from $50.00 to $53.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Several other research firms also recently issued reports on GBCI. Piper Sandler restated a “neutral” rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research note on Tuesday, August 27th. Raymond James upped their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. One investment 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 $46.20.

Glacier Bancorp Trading Down 2.2 %

NASDAQ:GBCI opened at $52.16 on Monday. Glacier Bancorp has a 1 year low of $29.35 and a 1 year high of $53.93. The stock has a market cap of $5.91 billion, a P/E ratio of 32.20 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $46.36 and a 200-day simple moving average of $41.52.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The company had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter last year, the company earned $0.47 earnings per share. As a group, analysts anticipate that Glacier Bancorp will post 1.63 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.53%. Glacier Bancorp’s payout ratio is currently 81.48%.

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Glacier Bancorp in the first quarter valued at $25,000. State of Michigan Retirement System lifted its stake in shares of Glacier Bancorp by 2.3% in the first quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock valued at $1,097,000 after purchasing an additional 600 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Glacier Bancorp by 0.6% during the first quarter. Ashton Thomas Private Wealth LLC now owns 254,299 shares of the bank’s stock worth $10,243,000 after buying an additional 1,610 shares in the last quarter. Retirement Systems of Alabama grew its position in Glacier Bancorp by 0.3% during the first quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock worth $5,609,000 after buying an additional 370 shares during the period. Finally, BNP Paribas Financial Markets increased 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 valued at $2,415,000 after buying an additional 24,653 shares in the last quarter. Institutional investors and hedge funds 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.