Glacier Bancorp (NASDAQ:GBCI) Price Target Raised to $57.00

Glacier Bancorp (NASDAQ:GBCI) had its price target boosted by research analysts at Piper Sandler from $56.00 to $57.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would suggest a potential upside of 12.43% from the stock’s current price.

Several other research firms have also recently issued reports on GBCI. Raymond James reissued an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Truist Financial upped 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, October 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.00.

Glacier Bancorp Price Performance

Shares of GBCI stock traded down $0.06 during trading hours on Wednesday, reaching $50.70. The company had a trading volume of 115,902 shares, compared to its average volume of 556,603. Glacier Bancorp has a 12-month low of $34.35 and a 12-month high of $60.67. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 31.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $54.03 and a 200-day moving average of $47.88.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The firm had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same period last year, the business earned $0.47 earnings per share. On average, equities analysts anticipate that Glacier Bancorp will post 1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after buying an additional 41,160 shares during the period. Dimensional Fund Advisors LP grew its holdings in Glacier Bancorp by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock worth $97,450,000 after acquiring an additional 103,374 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after purchasing an additional 280,255 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Glacier Bancorp by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock valued at $74,402,000 after purchasing an additional 49,006 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Glacier Bancorp by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after purchasing an additional 6,394 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

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.