Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives $48.83 Average PT from Analysts

Glacier Bancorp, Inc. (NASDAQ:GBCI) has earned an average recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $48.83.

Several research firms have weighed in on GBCI. Keefe, Bruyette & Woods raised their price target on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler boosted their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Raymond James upped their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Truist Financial lifted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $50.29 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $54.16 and its 200 day moving average price is $46.66. Glacier Bancorp has a 52 week low of $34.35 and a 52 week high of $60.67. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 31.04 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating 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 business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. During the same period in the prior year, the business earned $0.47 earnings per share. As a group, research analysts forecast that Glacier Bancorp will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.62%. Glacier Bancorp’s payout ratio is currently 81.48%.

Institutional Investors Weigh In On Glacier Bancorp

Institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its holdings 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. Millennium Management LLC boosted its holdings in Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after acquiring an additional 271,398 shares during the last quarter. Sei Investments Co. grew its position in Glacier Bancorp by 123.9% during the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock valued at $12,393,000 after acquiring an additional 183,757 shares during the period. Natixis Advisors LLC grew its position in Glacier Bancorp by 187.1% during the second quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock valued at $9,442,000 after acquiring an additional 164,897 shares during the period. Finally, Pier Capital LLC acquired a new stake in Glacier Bancorp during the third quarter worth about $7,443,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

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.