Glacier Bancorp, Inc. (NYSE:GBCI) Stock Has Average Price Target of $56.40 According to Brokerages

Glacier Bancorp, Inc. (NYSE:GBCI) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $56.40.

A number of equities research analysts have weighed in on GBCI shares. Weiss Ratings raised Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. DA Davidson reissued a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a research note on Monday, July 27th.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, Chairman Craig Langel acquired 2,250 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average price of $47.04 per share, with a total value of $105,840.00. Following the completion of the acquisition, the chairman directly owned 98,684 shares of the company’s stock, valued at approximately $4,642,095.36. The trade was a 2.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Root Financial Partners LLC grew its stake in shares of Glacier Bancorp by 122.5% during the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after purchasing an additional 359 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Glacier Bancorp during the fourth quarter worth about $35,000. Assetmark Inc. grew its position in Glacier Bancorp by 33.9% during the first quarter. Assetmark Inc. now owns 813 shares of the company’s stock worth $36,000 after buying an additional 206 shares during the period. Allworth Financial LP purchased a new position in Glacier Bancorp in the second quarter valued at about $46,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Glacier Bancorp in the second quarter valued at about $65,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 0.5%

Shares of Glacier Bancorp stock opened at $43.62 on Tuesday. Glacier Bancorp has a 52-week low of $39.90 and a 52-week high of $54.58. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The company’s 50-day simple moving average is $45.57 and its 200-day simple moving average is $47.81. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 17.88 and a beta of 0.77.

Glacier Bancorp (NYSE:GBCI) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The firm had revenue of $320.94 million during the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. During the same period in the prior year, the company earned $0.57 earnings per share. As a group, equities research analysts anticipate that Glacier Bancorp will post 3.10 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, October 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, October 6th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 57.38%.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries, including Glacier Bank, the company provides financial services to individuals, families, businesses and community organizations across the Mountain West and Inland Northwest.

The company’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgages, commercial and real estate lending, agricultural loans, cash-management services and online and mobile banking.