Piper Sandler Forecasts Strong Price Appreciation for Glacier Bancorp (NASDAQ:GBCI) Stock

Glacier Bancorp (NASDAQ:GBCI) had its price target hoisted by Piper Sandler from $56.00 to $57.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other brokerages have also weighed in on GBCI. Truist Financial upped their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods upped their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James reiterated an “outperform” rating and set a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and a consensus target price of $52.00.

Glacier Bancorp Trading Up 1.8 %

Shares of GBCI opened at $51.13 on Wednesday. The stock has a 50 day simple moving average of $53.66 and a 200-day simple moving average of $48.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market cap of $5.80 billion, a PE ratio of 31.56 and a beta of 0.81. Glacier Bancorp has a 1 year low of $34.35 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter in the previous year, the company earned $0.47 EPS. On average, sell-side analysts predict that Glacier Bancorp will post 1.73 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Tuesday, December 10th. Glacier Bancorp’s payout ratio is 81.48%.

Institutional Trading of Glacier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its stake in Glacier Bancorp by 39.2% in the fourth quarter. SG Americas Securities LLC now owns 15,873 shares of the bank’s stock valued at $797,000 after purchasing an additional 4,469 shares in the last quarter. Argent Capital Management LLC boosted its holdings in shares of Glacier Bancorp by 38.6% in the 4th quarter. Argent Capital Management LLC now owns 17,411 shares of the bank’s stock valued at $874,000 after buying an additional 4,853 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Glacier Bancorp in the fourth quarter valued at $273,000. GAMMA Investing LLC grew its stake in shares of Glacier Bancorp by 20.9% in the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock valued at $153,000 after buying an additional 526 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in Glacier Bancorp by 79.2% during the third quarter. Synovus Financial Corp now owns 32,484 shares of the bank’s stock worth $1,485,000 after buying an additional 14,359 shares during the last quarter. 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.