Truist Financial Raises Glacier Bancorp (NASDAQ:GBCI) Price Target to $50.00

Glacier Bancorp (NASDAQ:GBCI) had its price target hoisted by Truist Financial from $46.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a hold rating on the bank’s stock.

GBCI has been the topic of a number of other reports. StockNews.com raised shares of Glacier Bancorp to a sell rating in a research report on Thursday, June 6th. Piper Sandler restated a neutral rating and issued a $38.00 price target on shares of Glacier Bancorp in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $43.80.

Glacier Bancorp Stock Down 0.5 %

Glacier Bancorp stock opened at $46.01 on Friday. The firm has a market capitalization of $5.22 billion, a P/E ratio of 26.29 and a beta of 0.80. The stock’s fifty day simple moving average is $44.15 and its 200-day simple moving average is $39.87. Glacier Bancorp has a twelve month low of $27.36 and a twelve month high of $47.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The company had revenue of $306.04 million for the quarter, compared to analyst estimates of $204.43 million. During the same quarter last year, the company earned $0.50 EPS. As a group, equities analysts expect that Glacier Bancorp will post 1.62 earnings per share for the current fiscal year.

Insider Activity at Glacier Bancorp

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now owns 9,402 shares of the company’s stock, valued at $418,859.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total value of $45,490.00. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now directly owns 9,402 shares in the company, valued at $418,859.10. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glacier Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp in the 1st quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in shares of Glacier Bancorp in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in shares of Glacier Bancorp in the first quarter valued at approximately $50,000. GAMMA Investing LLC raised its stake 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 during the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Glacier Bancorp by 66,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock worth $164,000 after purchasing an additional 3,966 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.