Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) PT at $52.00

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $52.00.

A number of equities research analysts recently weighed in on GBCI shares. 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. DA Davidson reiterated a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a research report on Wednesday, November 12th. Raymond James Financial cut their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods decreased their price objective on Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research note on Monday, October 20th.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $42.30 on Friday. The stock has a 50-day moving average price of $43.49 and a 200 day moving average price of $44.78. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 25.33 and a beta of 0.78. Glacier Bancorp has a 12 month low of $36.76 and a 12 month high of $57.22.

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

Glacier Bancorp Dividend Announcement

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

Insider Activity

In other news, insider Lee Kenneth Groom purchased 2,425 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $41.26 per share, with a total value of $100,055.50. Following the acquisition, the insider directly owned 14,343 shares of the company’s stock, valued at approximately $591,792.18. This represents a 20.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ron J. Copher acquired 2,400 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $41.17 per share, with a total value of $98,808.00. Following the transaction, the chief financial officer owned 96,626 shares in the company, valued at $3,978,092.42. This represents a 2.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 8,852 shares of company stock worth $364,484 in the last ninety days. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its position in shares of Glacier Bancorp by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank’s stock valued at $544,000 after acquiring an additional 240 shares during the period. AlphaQuest LLC lifted its stake in Glacier Bancorp by 9.5% in the 2nd quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock valued at $129,000 after purchasing an additional 260 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Glacier Bancorp by 20.4% during the third quarter. Farther Finance Advisors LLC now owns 1,609 shares of the bank’s stock worth $78,000 after purchasing an additional 273 shares during the period. M&T Bank Corp grew its holdings in Glacier Bancorp by 0.4% during the second quarter. M&T Bank Corp now owns 69,744 shares of the bank’s stock worth $3,004,000 after purchasing an additional 307 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Glacier Bancorp by 1.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,578 shares of the bank’s stock worth $800,000 after buying an additional 331 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.