Glacier Bancorp (NASDAQ:GBCI) Price Target Increased to $50.00 by Analysts at Truist Financial

Glacier Bancorp (NASDAQ:GBCI) had its price target raised by Truist Financial from $46.00 to $50.00 in a report released on Friday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

GBCI has been the subject of a number of other research reports. StockNews.com upgraded shares of Glacier Bancorp to a sell rating in a research note on Thursday, June 6th. Piper Sandler reaffirmed a neutral rating and issued a $38.00 price target on shares of Glacier Bancorp in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $43.80.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI opened at $46.24 on Friday. Glacier Bancorp has a one year low of $26.83 and a one year high of $47.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $44.06 and a 200 day simple moving average of $39.83. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.42 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $306.04 million during the quarter, compared to analysts’ expectations of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same quarter in the prior year, the company posted $0.50 EPS. Sell-side analysts expect that Glacier Bancorp will post 1.62 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Tuesday, July 9th. Glacier Bancorp’s payout ratio is currently 75.43%.

Insider Activity at Glacier Bancorp

In other news, CAO Don J. Chery sold 1,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the sale, the chief accounting officer now owns 52,539 shares in the company, valued at $2,389,999.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Don J. Chery sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the sale, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the completion of the transaction, the director now owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

Several large investors have recently made changes to their positions in the company. CWM LLC increased its position in Glacier Bancorp by 0.9% in the first quarter. CWM LLC now owns 35,864 shares of the bank’s stock worth $1,445,000 after purchasing an additional 331 shares during the period. Retirement Systems of Alabama lifted its holdings in Glacier Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock valued at $5,609,000 after buying an additional 370 shares during the period. Pacer Advisors Inc. boosted its stake in Glacier Bancorp by 2.6% in the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock valued at $632,000 after acquiring an additional 427 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Glacier Bancorp by 0.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 96,208 shares of the bank’s stock valued at $3,875,000 after acquiring an additional 585 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Glacier Bancorp by 6.7% in the 2nd quarter. Inspire Investing LLC now owns 9,472 shares of the bank’s stock valued at $353,000 after purchasing an additional 593 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.