Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives $53.60 Consensus Price Target from Analysts

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $54.3333.

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. 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. DA Davidson boosted their price objective on Glacier Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. Piper Sandler raised Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $58.00 in a research report on Thursday, December 18th. Finally, Stephens set a $58.00 target price on Glacier Bancorp in a research report on Monday, January 26th.

Glacier Bancorp Trading Up 1.5%

GBCI stock opened at $50.67 on Monday. Glacier Bancorp has a twelve month low of $36.76 and a twelve month high of $51.50. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 30.34 and a beta of 0.75. 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’s fifty day simple moving average is $45.58 and its two-hundred day simple moving average is $45.68.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, analysts anticipate that Glacier Bancorp will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, December 9th. Glacier Bancorp’s payout ratio is 66.33%.

Insider Activity at Glacier Bancorp

In related news, insider Lee Kenneth Groom purchased 2,425 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $41.26 per share, with a total value of $100,055.50. Following the completion of the purchase, the insider owned 14,343 shares of the company’s stock, valued at approximately $591,792.18. The trade was a 20.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ryan Thomas Screnar purchased 979 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of $41.88 per share, with a total value of $41,000.52. Following the acquisition, the insider directly owned 10,842 shares of the company’s stock, valued at $454,062.96. This trade represents a 9.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 8,241 shares of company stock valued at $339,562 over the last 90 days. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glacier Bancorp

Several institutional investors have recently made changes to their positions in GBCI. Ameritas Advisory Services LLC bought a new position in Glacier Bancorp during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock worth $31,000 after purchasing an additional 490 shares during the period. Mather Group LLC. purchased a new stake in shares of Glacier Bancorp in the 3rd quarter worth approximately $35,000. Measured Wealth Private Client Group LLC bought a new position in shares of Glacier Bancorp during the third quarter valued at approximately $40,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Glacier Bancorp by 1,176.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,264 shares of the bank’s stock valued at $62,000 after buying an additional 1,165 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.