Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Price Target at $43.00

Glacier Bancorp, Inc. (NASDAQ:GBCI) has received an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $43.00.

GBCI has been the subject of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 target price on shares of Glacier Bancorp in a research report on Tuesday, August 27th. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Finally, Truist Financial boosted their target price on shares of Glacier Bancorp from $38.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd.

Glacier Bancorp Price Performance

GBCI opened at $44.92 on Friday. Glacier Bancorp has a 52-week low of $26.83 and a 52-week high of $47.71. The company has a 50 day moving average of $43.61 and a two-hundred day moving average of $39.67. The company has a market cap of $5.09 billion, a P/E ratio of 25.67 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The business had revenue of $306.04 million for the quarter, compared to analyst estimates of $204.43 million. During the same quarter in the previous year, the business posted $0.50 EPS. On average, analysts expect that Glacier Bancorp will post 1.62 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced 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 2.94%. The ex-dividend date was Tuesday, July 9th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Insider Transactions at Glacier Bancorp

In related news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total value of $45,490.00. Following the sale, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 52,539 shares in the company, valued at $2,389,999.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the company’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 value of $250,326.45. Following the sale, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

Several large investors have recently added to or reduced their stakes in GBCI. Creative Planning raised its holdings in shares of Glacier Bancorp by 12.2% during the second quarter. Creative Planning now owns 36,792 shares of the bank’s stock worth $1,373,000 after purchasing an additional 4,009 shares during the period. Algert Global LLC acquired a new stake in Glacier Bancorp during the second quarter worth about $426,000. The Manufacturers Life Insurance Company raised its stake in Glacier Bancorp by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 138,527 shares of the bank’s stock worth $5,170,000 after acquiring an additional 2,002 shares during the period. Millennium Management LLC lifted its holdings in Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after acquiring an additional 271,398 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Glacier Bancorp by 14.3% in the second quarter. AQR Capital Management LLC now owns 13,007 shares of the bank’s stock valued at $476,000 after acquiring an additional 1,627 shares during the period. 80.17% of the stock is currently owned by 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.