Glacier Bancorp (NASDAQ:GBCI) Price Target Raised to $48.00 at Raymond James

Glacier Bancorp (NASDAQ:GBCI) had its price target raised by Raymond James from $45.00 to $48.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Other analysts have also issued reports about the company. StockNews.com upgraded Glacier Bancorp to a sell rating in a report on Thursday, June 6th. Truist Financial upped their price target on Glacier Bancorp from $46.00 to $50.00 and gave the stock a hold rating in a research report on Friday, September 20th. Finally, Piper Sandler reiterated a neutral rating and issued a $38.00 price objective on shares of Glacier Bancorp in a report on Tuesday, August 27th. One investment 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. According to data from MarketBeat.com, Glacier Bancorp currently has an average rating of Hold and a consensus price target of $44.20.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $45.57 on Wednesday. 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 market cap of $5.17 billion, a price-to-earnings ratio of 26.04 and a beta of 0.80. The business has a 50 day simple moving average of $44.26 and a 200 day simple moving average of $40.24. Glacier Bancorp has a 52-week low of $28.55 and a 52-week high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $306.04 million during the quarter, compared to the consensus estimate 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. Analysts anticipate that Glacier Bancorp will post 1.62 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

Insider Activity

In related news, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 9,402 shares in the company, valued at approximately $418,859.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Don J. Chery sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total value of $250,326.45. Following the completion of the sale, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glacier Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in Glacier Bancorp during the second quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in shares of Glacier Bancorp during the first quarter worth approximately $50,000. GAMMA Investing LLC grew its position in shares of Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after purchasing an additional 772 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Glacier Bancorp during the second quarter worth approximately $207,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.