Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $50.40

Glacier Bancorp, Inc. (NASDAQ:GBCI) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $52.00.

A number of equities research analysts recently weighed in on GBCI shares. Keefe, Bruyette & Woods reduced their price objective on Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research report on Monday, October 20th. Piper Sandler reissued a “neutral” rating and set a $50.00 price target on shares of Glacier Bancorp in a research note on Monday, October 20th. Raymond James Financial reduced their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research note on Wednesday.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $42.35 on Wednesday. Glacier Bancorp has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $5.50 billion, a P/E ratio of 25.36 and a beta of 0.83. The company’s 50 day moving average price is $45.86 and its two-hundred day moving average price is $44.75.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.05). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter last year, the company earned $0.46 EPS. On average, equities analysts forecast that Glacier Bancorp will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, December 9th. Glacier Bancorp’s dividend payout ratio is 64.71%.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, CFO Ron J. Copher purchased 2,400 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were bought at an average price of $41.17 per share, for a total transaction of $98,808.00. Following the completion of the acquisition, the chief financial officer owned 96,626 shares in the company, valued at approximately $3,978,092.42. This trade represents a 2.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Thomas Screnar acquired 979 shares of Glacier Bancorp stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average cost of $41.88 per share, for a total transaction of $41,000.52. Following the purchase, the insider owned 10,842 shares of the company’s stock, valued at $454,062.96. The trade was a 9.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 8,852 shares of company stock worth $364,484 over the last ninety days. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Glacier Bancorp during the second quarter worth about $54,144,000. Balyasny Asset Management L.P. acquired a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $24,362,000. Voya Investment Management LLC increased its position in Glacier Bancorp by 1,653.0% during the 3rd quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock valued at $26,324,000 after purchasing an additional 510,017 shares during the period. Nuveen LLC bought a new position in Glacier Bancorp during the 1st quarter worth approximately $21,220,000. Finally, Vanguard Group Inc. lifted its position in shares of Glacier Bancorp by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,488,822 shares of the bank’s stock worth $607,831,000 after purchasing an additional 419,849 shares during the period. Institutional investors 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.