Glacier Bancorp (NASDAQ:GBCI) PT Raised to $46.00 at Truist Financial

Glacier Bancorp (NASDAQ:GBCI) had its price objective lifted by Truist Financial from $38.00 to $46.00 in a research report report published on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other research firms have also recently commented on GBCI. StockNews.com upgraded shares of Glacier Bancorp to a sell rating in a report on Thursday, June 6th. Stephens cut their price target on Glacier Bancorp from $44.00 to $40.00 and set an equal weight rating for the company in a research note on Tuesday, April 23rd. Finally, DA Davidson dropped their price objective on Glacier Bancorp from $48.00 to $45.00 and set a buy rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $44.25.

Glacier Bancorp Stock Up 3.6 %

Shares of Glacier Bancorp stock opened at $45.31 on Monday. Glacier Bancorp has a 1 year low of $26.83 and a 1 year high of $46.14. The company has a market cap of $5.14 billion, a P/E ratio of 25.89 and a beta of 0.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $38.07 and a 200 day moving average price of $38.20.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) 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 analyst estimates of $204.43 million. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, analysts expect that Glacier Bancorp will post 1.63 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.91%. Glacier Bancorp’s payout ratio is currently 75.43%.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after buying an additional 479 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Glacier Bancorp in the first quarter valued at about $25,000. GAMMA Investing LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth about $25,000. Headlands Technologies LLC acquired a new position in shares of Glacier Bancorp during the 1st quarter worth about $50,000. Finally, Signaturefd LLC boosted its stake in Glacier Bancorp by 51.9% during the 4th quarter. Signaturefd LLC now owns 3,727 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,274 shares during the period. Institutional investors 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.