Glacier Bancorp, Inc. (NASDAQ:GBCI) Receives $48.83 Consensus Price Target from Analysts

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been given an average rating of “Hold” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $48.83.

Several brokerages recently commented on GBCI. Piper Sandler upped their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Raymond James upped their target price on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial raised their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock opened at $50.94 on Friday. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 31.44 and a beta of 0.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average price of $53.97 and a 200-day moving average price of $46.30. Glacier Bancorp has a one year low of $34.35 and a one year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The company had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Equities analysts expect that Glacier Bancorp will post 1.7 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.59%. Glacier Bancorp’s payout ratio is currently 81.48%.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds have recently made changes to their positions in GBCI. Thrivent Financial for Lutherans lifted its stake in Glacier Bancorp by 19.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after acquiring an additional 280,255 shares during the period. Millennium Management LLC raised its holdings in shares of Glacier Bancorp by 131.9% in the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after purchasing an additional 271,398 shares in the last quarter. Sei Investments Co. lifted its position in shares of Glacier Bancorp by 123.9% in the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after purchasing an additional 183,757 shares during the period. Natixis Advisors LLC boosted its stake in shares of Glacier Bancorp by 187.1% during the second quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock valued at $9,442,000 after purchasing an additional 164,897 shares in the last quarter. Finally, Pier Capital LLC purchased a new position in Glacier Bancorp during the third quarter valued at approximately $7,443,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

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.