Analysts Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $52.00

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. Two 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 twelve-month target price among brokers that have covered the stock in the last year is $52.00.

Several analysts recently weighed in on GBCI shares. 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. Keefe, Bruyette & Woods cut their target price on Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Monday, October 20th. DA Davidson reaffirmed a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a research report on Wednesday, November 12th. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 price objective on shares of Glacier Bancorp in a research report on Monday, October 20th.

Insider Activity

In other news, CFO Ron J. Copher acquired 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average cost of $41.17 per share, for a total transaction of $98,808.00. Following the acquisition, the chief financial officer directly owned 96,626 shares in the company, valued at approximately $3,978,092.42. The trade was a 2.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan Thomas Screnar bought 979 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $41.88 per share, for a total transaction of $41,000.52. Following the completion of the purchase, the insider owned 10,842 shares in the company, valued at approximately $454,062.96. The trade was a 9.93% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 8,852 shares of company stock worth $364,484 over the last three months. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glacier Bancorp

Large investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in Glacier Bancorp by 6.8% during the first quarter. Royal Bank of Canada now owns 383,150 shares of the bank’s stock valued at $16,942,000 after purchasing an additional 24,398 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Glacier Bancorp during the 1st quarter valued at about $729,000. Intech Investment Management LLC grew its stake in shares of Glacier Bancorp by 32.5% during the 1st quarter. Intech Investment Management LLC now owns 76,865 shares of the bank’s stock valued at $3,399,000 after acquiring an additional 18,874 shares during the period. Jane Street Group LLC increased its holdings in Glacier Bancorp by 464.3% in the 1st quarter. Jane Street Group LLC now owns 287,773 shares of the bank’s stock worth $12,725,000 after acquiring an additional 236,781 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in Glacier Bancorp during the 1st quarter worth approximately $498,000. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Stock Down 0.8%

Shares of Glacier Bancorp stock opened at $43.99 on Friday. Glacier Bancorp has a 1 year low of $36.76 and a 1 year high of $55.38. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 26.34 and a beta of 0.78. The company has a 50-day moving average of $43.27 and a 200 day moving average of $44.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, October 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm posted $0.46 earnings per share. As a group, sell-side analysts anticipate that Glacier Bancorp will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.0%. Glacier Bancorp’s dividend payout ratio is presently 64.71%.

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.