Glacier Bancorp (NASDAQ:GBCI) Price Target Raised to $58.00

Glacier Bancorp (NASDAQ:GBCI) had its target price increased by DA Davidson from $55.00 to $58.00 in a research note published on Monday, MarketBeat reports. The firm currently has a buy rating on the bank’s stock.

Several other equities analysts have also commented on GBCI. Piper Sandler raised Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $50.00 to $58.00 in a report on Thursday, December 18th. Keefe, Bruyette & Woods raised Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Monday, December 15th. Finally, Raymond James Financial reduced their price target on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Glacier Bancorp Stock Performance

GBCI stock opened at $48.98 on Monday. The stock’s 50 day simple moving average is $45.22 and its 200 day simple moving average is $45.61. Glacier Bancorp has a 12-month low of $36.76 and a 12-month high of $51.50. The firm has a market cap of $6.36 billion, a P/E ratio of 29.33 and a beta of 0.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, January 22nd. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $0.54 EPS. As a group, equities research analysts predict that Glacier Bancorp will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, December 9th. Glacier Bancorp’s dividend payout ratio is currently 66.33%.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom bought 2,425 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of $41.26 per share, with a total value of $100,055.50. Following the completion of the purchase, the insider directly owned 14,343 shares of the company’s stock, valued at $591,792.18. This represents a 20.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Randall M. Chesler purchased 2,437 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was acquired at an average cost of $40.91 per share, with a total value of $99,697.67. Following the completion of the acquisition, 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 SEC filing for this purchase provides additional information. Insiders have acquired 8,852 shares of company stock worth $364,484 over the last ninety days. Insiders own 0.53% of the company’s stock.

Institutional Trading of Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Davidson Trust Co. acquired a new stake in shares of Glacier Bancorp during the third quarter worth approximately $3,478,000. Voya Investment Management LLC lifted its position in Glacier Bancorp by 1,653.0% in the 3rd quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock worth $26,324,000 after buying an additional 510,017 shares in the last quarter. TrueMark Investments LLC purchased a new stake in Glacier Bancorp in the 3rd quarter worth approximately $3,229,000. Idaho Trust Co acquired a new stake in shares of Glacier Bancorp during the 2nd quarter valued at $14,663,000. Finally, Kennedy Capital Management LLC grew its holdings in shares of Glacier Bancorp by 20.6% during the 2nd quarter. Kennedy Capital Management LLC now owns 235,048 shares of the bank’s stock valued at $10,126,000 after acquiring an additional 40,138 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

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.