Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives $52.00 Consensus PT from Brokerages

Glacier Bancorp, Inc. (NASDAQ:GBCI) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. Four 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 brokers that have issued a report on the stock in the last year is $52.00.

Several brokerages have recently weighed in on GBCI. Truist Financial upped their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods increased their price target on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James reissued an “outperform” rating and issued a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Piper Sandler increased their price target on Glacier Bancorp from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th.

Glacier Bancorp Price Performance

GBCI stock opened at $51.63 on Thursday. Glacier Bancorp has a 12-month low of $34.35 and a 12-month high of $60.67. The stock has a 50-day moving average price of $53.42 and a two-hundred day moving average price of $48.38. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a market cap of $5.86 billion, a PE ratio of 31.87 and a beta of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, research analysts predict that Glacier Bancorp will post 1.73 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Tuesday, December 10th. Glacier Bancorp’s payout ratio is currently 81.48%.

Institutional Trading of Glacier Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in GBCI. GAMMA Investing LLC raised its position in shares of Glacier Bancorp by 60.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock worth $115,000 after purchasing an additional 947 shares during the period. Venturi Wealth Management LLC raised its position in shares of Glacier Bancorp by 44.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after purchasing an additional 927 shares during the period. Wolverine Trading LLC acquired a new stake in shares of Glacier Bancorp during the 3rd quarter worth approximately $205,000. Intech Investment Management LLC acquired a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $207,000. Finally, Blue Trust Inc. raised its position in shares of Glacier Bancorp by 192.9% during the 4th quarter. Blue Trust Inc. now owns 5,087 shares of the bank’s stock worth $232,000 after purchasing an additional 3,350 shares during the period. 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.