Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives $48.83 Average PT from Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $48.83.

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

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds have recently made changes to their positions in GBCI. Synovus Financial Corp grew its position in shares of Glacier Bancorp by 79.2% during the 3rd quarter. Synovus Financial Corp now owns 32,484 shares of the bank’s stock valued at $1,485,000 after acquiring an additional 14,359 shares during the period. Neo Ivy Capital Management purchased a new position in Glacier Bancorp in the third quarter valued at approximately $1,568,000. Geode Capital Management LLC grew its holdings in Glacier Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after purchasing an additional 41,160 shares during the period. M&T Bank Corp increased its position in Glacier Bancorp by 2.7% in the third quarter. M&T Bank Corp now owns 110,752 shares of the bank’s stock worth $5,062,000 after buying an additional 2,939 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Glacier Bancorp by 65.6% in the third quarter. Barclays PLC now owns 247,717 shares of the bank’s stock valued at $11,321,000 after buying an additional 98,158 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Stock Up 0.4 %

GBCI stock opened at $51.13 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. Glacier Bancorp has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. The stock’s 50 day simple moving average is $54.11 and its 200 day simple moving average is $46.47. The company has a market cap of $5.80 billion, a P/E ratio of 31.56 and a beta of 0.79.

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

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, December 10th. Glacier Bancorp’s payout ratio is 81.48%.

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.