Glacier Bancorp (NASDAQ:GBCI) Price Target Increased to $46.00 by Analysts at Truist Financial

Glacier Bancorp (NASDAQ:GBCI) had its price target increased by Truist Financial from $38.00 to $46.00 in a report published on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other brokerages have also recently commented on GBCI. Stephens reduced their price target on Glacier Bancorp from $44.00 to $40.00 and set an equal weight rating for the company in a research report on Tuesday, April 23rd. DA Davidson cut their price objective on Glacier Bancorp from $48.00 to $45.00 and set a buy rating for the company in a report on Monday, April 22nd. Finally, StockNews.com upgraded shares of Glacier Bancorp to a sell rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp has an average rating of Hold and a consensus price target of $44.25.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $45.31 on Monday. Glacier Bancorp has a 12 month low of $26.83 and a 12 month high of $46.14. The company’s fifty day simple moving average is $38.07 and its 200-day simple moving average is $38.20. The firm has a market cap of $5.14 billion, a PE ratio of 25.89 and a beta of 0.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82.

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

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Tuesday, July 9th. Glacier Bancorp’s payout ratio is presently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Ceredex Value Advisors LLC raised its position in shares of Glacier Bancorp by 145.0% in the second quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock valued at $11,513,000 after purchasing an additional 182,600 shares during the period. Argent Capital Management LLC raised its holdings in Glacier Bancorp by 60.9% in the 2nd quarter. Argent Capital Management LLC now owns 10,913 shares of the bank’s stock valued at $407,000 after acquiring an additional 4,130 shares during the period. Retirement Systems of Alabama lifted its position in Glacier Bancorp by 0.5% during the second quarter. Retirement Systems of Alabama now owns 139,950 shares of the bank’s stock worth $5,223,000 after acquiring an additional 709 shares during the last quarter. &PARTNERS boosted its holdings in shares of Glacier Bancorp by 134.1% during the second quarter. &PARTNERS now owns 57,563 shares of the bank’s stock worth $2,148,000 after acquiring an additional 32,969 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Glacier Bancorp by 230.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,630 shares of the bank’s stock valued at $285,000 after purchasing an additional 5,320 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.