Glacier Bancorp’s (GBCI) “Outperform” Rating Reiterated at Raymond James

Glacier Bancorp (NASDAQ:GBCI)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a note issued to investors on Wednesday,Benzinga reports. They presently have a $55.00 target price on the bank’s stock, up from their prior target price of $52.00. Raymond James’ target price indicates a potential upside of 7.74% from the stock’s previous close.

GBCI has been the topic of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lifted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Truist Financial increased their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.00.

Glacier Bancorp Stock Up 0.6 %

Glacier Bancorp stock traded up $0.29 during mid-day trading on Wednesday, hitting $51.05. The company had a trading volume of 111,161 shares, compared to its average volume of 555,831. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp has a 1 year low of $34.35 and a 1 year high of $60.67. The business has a fifty day moving average of $54.03 and a 200 day moving average of $47.88. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 31.51 and a beta of 0.81.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its holdings in shares of Glacier Bancorp by 16.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,191 shares of the bank’s stock worth $679,000 after purchasing an additional 2,520 shares during the period. Envestnet Asset Management Inc. raised its position in Glacier Bancorp by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 190,282 shares of the bank’s stock worth $7,101,000 after buying an additional 3,242 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Glacier Bancorp by 9.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,125,955 shares of the bank’s stock worth $42,021,000 after acquiring an additional 99,811 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Glacier Bancorp by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock valued at $97,450,000 after acquiring an additional 103,374 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Glacier Bancorp during the second quarter worth about $2,523,000. 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.