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

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have received an average recommendation of “Buy” from the six research firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $53.60.

A number of brokerages recently weighed in on GBCI. Piper Sandler raised shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $50.00 to $58.00 in a research note on Thursday, December 18th. Keefe, Bruyette & Woods raised Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Monday, December 15th. DA Davidson reiterated a “buy” rating and set a $58.00 price objective on shares of Glacier Bancorp in a report on Wednesday, November 12th. Finally, Raymond James Financial cut their target price 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.

Insider Buying and Selling at Glacier Bancorp

In related news, CFO Ron J. Copher acquired 2,400 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price 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 of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Randall M. Chesler bought 2,437 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average cost of $40.91 per share, for a total transaction of $99,697.67. Following the transaction, the chief executive officer owned 7,422 shares of the company’s stock, valued at $303,634.02. The trade was a 48.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 8,852 shares of company stock worth $364,484 in the last three months. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of GBCI. Jump Financial LLC acquired a new position in Glacier Bancorp during the first quarter worth approximately $203,000. Royal Bank of Canada boosted its stake in shares of Glacier Bancorp by 6.8% during the 1st quarter. Royal Bank of Canada now owns 383,150 shares of the bank’s stock worth $16,942,000 after acquiring an additional 24,398 shares during the period. AQR Capital Management LLC increased its holdings in shares of Glacier Bancorp by 30.9% during the 1st quarter. AQR Capital Management LLC now owns 31,176 shares of the bank’s stock worth $1,358,000 after acquiring an additional 7,359 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Glacier Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,839 shares of the bank’s stock valued at $3,000,000 after acquiring an additional 2,964 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Glacier Bancorp by 681.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 31,127 shares of the bank’s stock valued at $1,376,000 after purchasing an additional 27,146 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $44.59 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $5.79 billion, a P/E ratio of 26.70 and a beta of 0.78. The company’s 50 day moving average price is $43.02 and its two-hundred day moving average price is $45.16. Glacier Bancorp has a 52 week low of $36.76 and a 52 week high of $52.81.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate 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 firm posted $0.46 earnings per share. On average, analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, December 9th. Glacier Bancorp’s payout ratio is currently 64.71%.

About Glacier Bancorp

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.