Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $53.60

Glacier Bancorp, Inc. (NASDAQ:GBCI) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $54.3333.

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

Insider Activity

In other news, CEO Randall M. Chesler purchased 2,437 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average cost of $40.91 per share, for a total transaction of $99,697.67. Following the completion of the purchase, the chief executive officer directly owned 7,422 shares in the company, valued at $303,634.02. The trade was a 48.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ron J. Copher purchased 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were purchased at an average cost of $41.17 per share, with a total value of $98,808.00. Following the completion of the acquisition, the chief financial officer directly owned 96,626 shares of the company’s stock, valued at $3,978,092.42. This represents a 2.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 8,852 shares of company stock worth $364,484 in the last ninety days. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in Glacier Bancorp by 3.3% in the fourth quarter. Arizona State Retirement System now owns 36,223 shares of the bank’s stock valued at $1,596,000 after acquiring an additional 1,143 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Glacier Bancorp in the 4th quarter valued at about $89,000. Peregrine Capital Management LLC lifted its stake in shares of Glacier Bancorp by 11.0% in the fourth quarter. Peregrine Capital Management LLC now owns 256,997 shares of the bank’s stock valued at $11,321,000 after purchasing an additional 25,476 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Glacier Bancorp by 34.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 56,326 shares of the bank’s stock worth $2,481,000 after buying an additional 14,542 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Glacier Bancorp by 8.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,953 shares of the bank’s stock worth $1,892,000 after buying an additional 3,487 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Up 0.5%

Glacier Bancorp stock opened at $48.98 on Monday. The company has a market capitalization of $6.36 billion, a P/E ratio of 29.33 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a fifty-two week low of $36.76 and a fifty-two week high of $51.50. The stock has a 50-day simple moving average of $45.22 and a 200-day simple moving average of $45.61.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing the consensus estimate 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 period last year, the business posted $0.54 EPS. Equities research analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp’s dividend payout ratio is presently 66.33%.

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.