Raymond James Boosts Glacier Bancorp (NASDAQ:GBCI) Price Target to $48.00

Glacier Bancorp (NASDAQ:GBCI) had its target price upped by Raymond James from $45.00 to $48.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Several other equities analysts also recently issued reports on the company. Piper Sandler reiterated a neutral rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. Truist Financial boosted their target price on shares of Glacier Bancorp from $46.00 to $50.00 and gave the stock a hold rating in a research note on Friday, September 20th. Finally, StockNews.com raised shares of Glacier Bancorp to a sell rating in a research note on Thursday, June 6th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $44.20.

Glacier Bancorp Stock Up 2.0 %

Shares of NASDAQ:GBCI opened at $45.56 on Wednesday. The company’s fifty day moving average is $44.26 and its 200-day moving average is $40.22. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a 52 week low of $28.55 and a 52 week high of $47.71. The company has a market capitalization of $5.17 billion, a PE ratio of 26.03 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 the consensus estimate of $0.37 by $0.02. The firm 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 in the prior year, the firm earned $0.50 earnings per share. Equities research analysts predict that Glacier Bancorp will post 1.62 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.90%. Glacier Bancorp’s payout ratio is presently 75.43%.

Insider Activity

In related news, Director Annie M. Goodwin sold 5,619 shares of the business’s 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 completion of the sale, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Don J. Chery sold 1,000 shares of the 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 transaction, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at $2,389,999.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the completion of the transaction, the director now owns 9,402 shares in the company, valued at $418,859.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. &PARTNERS acquired a new position in shares of Glacier Bancorp during the 1st quarter worth about $991,000. Capital International Investors boosted 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 acquiring an additional 566,513 shares during the last quarter. Sei Investments Co. grew its holdings in Glacier Bancorp by 46.2% during the first quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock valued at $5,974,000 after purchasing an additional 46,890 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Glacier Bancorp by 21.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock valued at $3,160,000 after purchasing an additional 13,655 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Glacier Bancorp in the first quarter valued at approximately $477,000. 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.