Piper Sandler Trims Glacier Bancorp (NASDAQ:GBCI) Target Price to $38.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective dropped by investment analysts at Piper Sandler from $39.00 to $38.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would suggest a potential downside of 9.55% from the stock’s previous close.

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

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $42.01 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average price is $39.47 and its two-hundred day moving average price is $38.41. The company has a market cap of $4.76 billion, a PE ratio of 24.01 and a beta of 0.80. Glacier Bancorp has a twelve month low of $26.83 and a twelve month high of $46.78.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $306.04 million for 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 period in the previous year, the company earned $0.50 earnings per share. On average, analysts predict that Glacier Bancorp will post 1.63 EPS for the current year.

Insider Activity

In related news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction that occurred 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 transaction, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The sale was disclosed in a legal 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 business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the completion of the transaction, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Annie M. Goodwin sold 5,619 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $418,859.10. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GBCI. Federated Hermes Inc. boosted its stake in shares of Glacier Bancorp by 3.2% in the 4th quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock valued at $396,000 after purchasing an additional 300 shares in the last quarter. Xponance Inc. grew its stake in shares of Glacier Bancorp by 2.0% during the fourth quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock worth $676,000 after buying an additional 326 shares during the last quarter. CWM LLC increased its holdings in shares of Glacier Bancorp by 0.9% during the first quarter. CWM LLC now owns 35,864 shares of the bank’s stock worth $1,445,000 after buying an additional 331 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of Glacier Bancorp by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock valued at $5,609,000 after acquiring an additional 370 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Glacier Bancorp by 2.6% during the 2nd quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock valued at $632,000 after acquiring an additional 427 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

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.