Piper Sandler Reaffirms Neutral Rating for Glacier Bancorp (NASDAQ:GBCI)

Piper Sandler reiterated their neutral rating on shares of Glacier Bancorp (NASDAQ:GBCI) in a report issued on Tuesday morning, Benzinga reports. Piper Sandler currently has a $38.00 price objective on the bank’s stock.

GBCI has been the topic of a number of other research reports. StockNews.com upgraded shares of Glacier Bancorp to a sell rating in a research report on Thursday, June 6th. Truist Financial boosted their target price on Glacier Bancorp from $38.00 to $46.00 and gave the company a hold rating in a research note on Monday, July 22nd. 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 company. Based on data from MarketBeat, Glacier Bancorp has an average rating of Hold and a consensus price target of $43.00.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock opened at $46.86 on Tuesday. The firm has a market capitalization of $5.31 billion, a PE ratio of 26.78 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. Glacier Bancorp has a 12 month low of $26.83 and a 12 month high of $47.71. The business’s 50-day moving average price is $41.29 and its 200-day moving average price is $38.88.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $306.04 million for the quarter, compared to analysts’ expectations of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same period last year, the business earned $0.50 earnings per share. Sell-side analysts forecast that Glacier Bancorp will post 1.63 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Tuesday, July 9th. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Glacier Bancorp

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in Glacier Bancorp in the fourth quarter worth about $1,185,000. Federated Hermes Inc. boosted its position in shares of Glacier Bancorp by 3.2% during the fourth quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock valued at $396,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Glacier Bancorp in the fourth quarter worth $25,000. Retirement Systems of Alabama raised its holdings in Glacier Bancorp by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 138,871 shares of the bank’s stock worth $5,738,000 after purchasing an additional 431 shares in the last quarter. Finally, Johnson Financial Group LLC purchased a new position in Glacier Bancorp during the fourth quarter valued at $248,000. 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.