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

Glacier Bancorp (NASDAQ:GBCI) had its target price upped by Raymond James from $45.00 to $48.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the bank’s stock.

Several other equities research analysts have also recently commented on the stock. Piper Sandler reaffirmed a neutral rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. Truist Financial boosted their price target on Glacier Bancorp from $46.00 to $50.00 and gave the company a hold rating in a report on Friday, September 20th. Finally, StockNews.com upgraded Glacier Bancorp to a sell rating in a report on Thursday, June 6th. 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 stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $44.20.

Glacier Bancorp Trading Up 2.0 %

NASDAQ GBCI opened at $45.56 on Wednesday. Glacier Bancorp has a one year low of $28.55 and a one year high of $47.71. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $5.17 billion, a P/E ratio of 26.03 and a beta of 0.80. The stock’s 50-day moving average is $44.26 and its 200-day moving average is $40.22.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping 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 business had revenue of $306.04 million during the quarter, compared to analysts’ expectations of $204.43 million. During the same period in the prior year, the business earned $0.50 EPS. Sell-side analysts anticipate that Glacier Bancorp will post 1.62 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.90%. Glacier Bancorp’s dividend payout ratio is 75.43%.

Insider Activity

In related news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the sale, the chief accounting officer now owns 52,539 shares in the company, valued at approximately $2,389,999.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Glacier Bancorp news, 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 $418,859.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Don J. Chery sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the transaction, the chief accounting officer now owns 52,539 shares in the company, valued at $2,389,999.11. This represents a 0.00 % decrease in their ownership of the stock. 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

Several hedge funds have recently bought and sold shares of GBCI. Wells Fargo & Company MN raised its stake in Glacier Bancorp by 3.7% in the 4th quarter. Wells Fargo & Company MN now owns 180,128 shares of the bank’s stock valued at $7,443,000 after acquiring an additional 6,502 shares during the period. US Bancorp DE increased its holdings in shares of Glacier Bancorp by 23.7% in the fourth quarter. US Bancorp DE now owns 15,792 shares of the bank’s stock valued at $653,000 after purchasing an additional 3,022 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Glacier Bancorp by 31.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,006 shares of the bank’s stock valued at $331,000 after purchasing an additional 1,918 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Glacier Bancorp by 45.6% during the 4th quarter. Eagle Asset Management Inc. now owns 64,868 shares of the bank’s stock worth $2,680,000 after buying an additional 20,312 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Glacier Bancorp by 46.7% during the 4th quarter. Rafferty Asset Management LLC now owns 167,238 shares of the bank’s stock worth $6,910,000 after buying an additional 53,222 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.