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

Glacier Bancorp (NASDAQ:GBCI) had its price objective raised by equities research analysts at Raymond James from $45.00 to $48.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Raymond James’ price target indicates a potential upside of 7.70% from the stock’s current price.

A number of other equities analysts have also recently issued reports on GBCI. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price target on shares of Glacier Bancorp in a research note on Tuesday, August 27th. Truist Financial upped their target price on shares of Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.20.

Glacier Bancorp Trading Up 1.1 %

Shares of NASDAQ GBCI traded up $0.48 during mid-day trading on Wednesday, hitting $44.57. The stock had a trading volume of 159,503 shares, compared to its average volume of 653,029. 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 1 year low of $27.36 and a 1 year high of $47.71. The business has a 50 day moving average price of $44.28 and a two-hundred day moving average price of $40.10. The firm has a market cap of $5.05 billion, a P/E ratio of 25.50 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 (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 the consensus estimate 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 previous year, the firm earned $0.50 EPS. On average, equities analysts anticipate that Glacier Bancorp will post 1.62 EPS for the current fiscal year.

Insider Transactions at Glacier Bancorp

In related news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction dated 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 owns 9,402 shares of the company’s stock, valued at $418,859.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the business’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 value of $250,326.45. Following the completion of the transaction, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Don J. Chery sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Glacier Bancorp

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Glacier Bancorp during the 1st quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in Glacier Bancorp during the second quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of Glacier Bancorp in the first quarter valued at $50,000. GAMMA Investing LLC lifted its position in shares of Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after acquiring an additional 772 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Glacier Bancorp in the second quarter valued at $207,000. 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.