Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $46.20

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have earned an average rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.20.

Several brokerages have recently weighed in on GBCI. Truist Financial boosted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Piper Sandler increased their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Finally, Raymond James raised their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd.

Glacier Bancorp Trading Down 1.4 %

GBCI opened at $50.94 on Friday. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 31.44 and a beta of 0.77. The company’s 50 day simple moving average is $46.54 and its two-hundred day simple moving average is $41.84. Glacier Bancorp has a 1-year low of $30.18 and a 1-year high of $53.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter last year, the business posted $0.47 earnings per share. Analysts expect that Glacier Bancorp will post 1.65 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Glacier Bancorp in the 1st quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in Glacier Bancorp in the 2nd quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in Glacier Bancorp during the first quarter worth about $50,000. GAMMA Investing LLC lifted its position in shares of Glacier Bancorp by 96.9% during the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Glacier Bancorp by 44.8% in the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after purchasing an additional 927 shares during the period. 80.17% of the stock is currently 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.