Glacier Bancorp (NASDAQ:GBCI) PT Lowered to $38.00

Glacier Bancorp (NASDAQ:GBCI) had its target price reduced by Piper Sandler from $39.00 to $38.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price would suggest a potential downside of 9.55% from the stock’s current price.

Several other analysts also recently weighed in on GBCI. Truist Financial lifted their price objective on shares of Glacier Bancorp from $38.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. Stephens lowered their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Finally, DA Davidson cut their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.00.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $42.01 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $39.47 and a two-hundred day moving average of $38.41. The company has a market cap of $4.76 billion, a P/E ratio of 24.01 and a beta of 0.80. Glacier Bancorp has a 52 week low of $26.83 and a 52 week high of $46.78.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The firm had revenue of $306.04 million during the quarter, compared to the consensus estimate of $204.43 million. During the same period in the prior year, the business earned $0.50 EPS. As a group, analysts anticipate that Glacier Bancorp will post 1.63 EPS for the current year.

Insider Activity at Glacier Bancorp

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction that occurred 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 directly owns 9,402 shares in the company, valued at approximately $418,859.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $250,326.45. Following the completion of the sale, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of Glacier Bancorp in the fourth quarter worth $1,185,000. Allworth Financial LP increased its position in Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Glacier Bancorp by 5.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,200 shares of the bank’s stock worth $2,116,000 after purchasing an additional 2,739 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $1,285,000. Finally, Strs Ohio grew its stake in shares of Glacier Bancorp by 47.8% in the 4th quarter. Strs Ohio now owns 9,900 shares of the bank’s stock valued at $409,000 after buying an additional 3,200 shares in the last quarter. Institutional investors and hedge funds 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.