Glacier Bancorp (NASDAQ:GBCI) PT Raised to $50.00 at Truist Financial

Glacier Bancorp (NASDAQ:GBCI) had its price objective raised by equities researchers at Truist Financial from $46.00 to $50.00 in a report released on Friday, Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s price target would suggest a potential upside of 8.13% from the company’s current price.

A number of other analysts have also issued reports on GBCI. Piper Sandler restated a “neutral” rating and set a $38.00 target price on shares of Glacier Bancorp in a research report on Tuesday, August 27th. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $43.80.

Glacier Bancorp Trading Down 2.6 %

Shares of GBCI opened at $46.24 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $44.06 and a 200-day simple moving average of $39.83. Glacier Bancorp has a 1-year low of $26.83 and a 1-year high of $47.71. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 26.42 and a beta of 0.80.

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

Insider Buying and Selling at Glacier Bancorp

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

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Glacier Bancorp by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock valued at $510,312,000 after acquiring an additional 80,251 shares in the last quarter. Dimensional Fund Advisors LP increased its stake 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 buying an additional 103,374 shares during the period. Capital Research Global Investors increased its stake in Glacier Bancorp by 60.3% during the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after buying an additional 724,089 shares during the period. Capital International Investors increased its stake in Glacier Bancorp by 45.1% during the 4th quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after buying an additional 566,513 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Glacier Bancorp by 10.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,528,273 shares of the bank’s stock worth $57,035,000 after buying an additional 149,404 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.