Analysts Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $37.80

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been given an average rating of “Moderate Buy” by the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $37.80.

GBCI has been the topic of several recent research reports. Raymond James upped their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Finally, Truist Financial lowered their price target on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, April 1st.

Institutional Trading of Glacier Bancorp

A number of hedge funds have recently bought and sold shares of GBCI. Morgan Stanley boosted its stake in shares of Glacier Bancorp by 150.3% during the 4th quarter. Morgan Stanley now owns 1,517,289 shares of the bank’s stock worth $74,984,000 after acquiring an additional 911,001 shares during the last quarter. Cooke & Bieler LP raised its holdings in Glacier Bancorp by 34.0% in the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after purchasing an additional 821,199 shares during the period. Norges Bank bought a new position in Glacier Bancorp in the 4th quarter worth $32,617,000. Envestnet Asset Management Inc. raised its holdings in Glacier Bancorp by 361.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock worth $25,724,000 after purchasing an additional 706,833 shares during the period. Finally, Capital Research Global Investors raised its holdings in Glacier Bancorp by 124.7% in the 4th quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank’s stock worth $49,622,000 after purchasing an additional 666,478 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $35.10 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $3.98 billion, a P/E ratio of 17.46 and a beta of 0.80. The stock’s 50 day moving average is $37.79 and its 200 day moving average is $36.53. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Friday, January 26th. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.08. The company had revenue of $197.32 million for the quarter, compared to the consensus estimate of $198.32 million. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. On average, equities research analysts predict that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.76%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is presently 65.67%.

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.