Glacier Bancorp (NASDAQ:GBCI) Price Target Raised to $45.00 at Piper Sandler

Glacier Bancorp (NASDAQ:GBCI) had its target price upped by stock analysts at Piper Sandler from $42.00 to $45.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential downside of 10.32% from the stock’s previous close.

A number of other research analysts also recently commented on GBCI. Truist Financial increased their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday. Raymond James raised their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Glacier Bancorp has a consensus rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI traded up $0.60 during trading on Monday, hitting $50.18. The company’s stock had a trading volume of 267,496 shares, compared to its average volume of 639,528. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a 12 month low of $29.35 and a 12 month high of $50.50. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 30.60 and a beta of 0.80. The company has a 50-day moving average of $45.66 and a 200-day moving average of $41.14.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. During the same period in the previous year, the company posted $0.47 EPS. On average, sell-side analysts expect that Glacier Bancorp will post 1.63 earnings per share for the current year.

Insider Buying and Selling

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the transaction, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glacier Bancorp

Several large investors have recently added to or reduced their stakes in GBCI. Sei Investments Co. increased its holdings in shares of Glacier Bancorp by 46.2% in the 1st quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock worth $5,974,000 after purchasing an additional 46,890 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Glacier Bancorp by 21.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after buying an additional 13,655 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Glacier Bancorp during the 1st quarter valued at about $477,000. Blue Trust Inc. raised its stake in shares of Glacier Bancorp by 20,598.6% during the 2nd quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock worth $600,000 after buying an additional 14,831 shares during the period. Finally, Capital Research Global Investors raised its position in shares of Glacier Bancorp by 60.3% in the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after buying an additional 724,089 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

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.