Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Price Target at $48.83

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have earned a consensus rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $48.83.

Several research firms have issued reports on GBCI. Piper Sandler lifted their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Raymond James boosted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price target on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial boosted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $50.94 on Friday. The stock’s 50-day moving average is $53.97 and its 200 day moving average is $46.30. Glacier Bancorp has a 1-year low of $34.35 and a 1-year high of $60.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $5.78 billion, a P/E ratio of 31.44 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same period last year, the business earned $0.47 EPS. Research analysts predict that Glacier Bancorp will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.59%. Glacier Bancorp’s payout ratio is presently 81.48%.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of GBCI. Barclays PLC lifted its stake in Glacier Bancorp by 65.6% during the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank’s stock valued at $11,321,000 after acquiring an additional 98,158 shares during the period. Geode Capital Management LLC raised its holdings in shares of Glacier Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after purchasing an additional 41,160 shares during the last quarter. LMR Partners LLP acquired a new position in Glacier Bancorp during the third quarter valued at $543,000. BNP Paribas Financial Markets boosted its holdings in Glacier Bancorp by 75.1% in the third quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank’s stock valued at $2,111,000 after purchasing an additional 19,814 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Glacier Bancorp by 30.9% during the 3rd quarter. Natixis Advisors LLC now owns 331,121 shares of the bank’s stock worth $15,132,000 after purchasing an additional 78,107 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.