Glacier Bancorp (NASDAQ:GBCI) Given New $38.00 Price Target at Piper Sandler

Glacier Bancorp (NASDAQ:GBCI) had its price target trimmed by Piper Sandler from $39.00 to $38.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

A number of other equities analysts have also issued reports on the company. StockNews.com raised Glacier Bancorp to a sell rating in a report on Thursday, June 6th. Stephens lowered their price target on Glacier Bancorp from $44.00 to $40.00 and set an equal weight rating on the stock in a report on Tuesday, April 23rd. Truist Financial upped their price objective on shares of Glacier Bancorp from $38.00 to $46.00 and gave the stock a hold rating in a report on Monday, July 22nd. Finally, DA Davidson lowered their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $43.00.

Glacier Bancorp Trading Up 1.6 %

NASDAQ:GBCI opened at $43.70 on Tuesday. The firm has a market capitalization of $4.96 billion, a P/E ratio of 24.97 and a beta of 0.80. The business has a 50 day simple moving average of $39.76 and a 200 day simple moving average of $38.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a 12-month low of $26.83 and a 12-month high of $46.78.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $306.04 million during the quarter, compared to analyst estimates of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Equities research analysts predict that Glacier Bancorp will post 1.63 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Tuesday, July 9th. Glacier Bancorp’s payout ratio is 75.43%.

Insider Activity

In related news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $418,859.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Don J. Chery sold 1,000 shares of the stock in a transaction on 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 approximately $2,389,999.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the sale, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GBCI. Creative Planning boosted its stake in Glacier Bancorp by 12.2% in the 2nd quarter. Creative Planning now owns 36,792 shares of the bank’s stock worth $1,373,000 after purchasing an additional 4,009 shares during the period. Algert Global LLC purchased a new stake in shares of Glacier Bancorp in the second quarter valued at $426,000. The Manufacturers Life Insurance Company boosted its position in shares of Glacier Bancorp by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 138,527 shares of the bank’s stock worth $5,170,000 after buying an additional 2,002 shares during the period. Millennium Management LLC grew its holdings in shares of Glacier Bancorp by 131.9% during the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after buying an additional 271,398 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Glacier Bancorp by 14.3% during the second quarter. AQR Capital Management LLC now owns 13,007 shares of the bank’s stock valued at $476,000 after buying an additional 1,627 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

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.