Glacier Bancorp (NASDAQ:GBCI) PT Raised to $50.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective upped by Truist Financial from $46.00 to $50.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would suggest a potential upside of 6.68% from the stock’s current price.

Several other research firms also recently weighed in on GBCI. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Piper Sandler restated a “neutral” rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $43.80.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI traded down $0.59 during midday trading on Friday, hitting $46.87. 491,987 shares of the stock traded hands, compared to its average volume of 650,243. 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 one year low of $26.83 and a one year high of $47.71. The firm has a market capitalization of $5.31 billion, a P/E ratio of 26.78 and a beta of 0.80. The firm has a 50-day moving average of $43.92 and a two-hundred day moving average of $39.77.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results 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. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The business had revenue of $306.04 million during the quarter, compared to the consensus estimate of $204.43 million. During the same period in the previous year, the company posted $0.50 EPS. On average, equities analysts forecast that Glacier Bancorp will post 1.62 EPS for the current fiscal year.

Insider Activity

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 completion of the transaction, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the 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 approximately $418,859.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Don J. Chery sold 1,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction 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 approximately $2,389,999.11. 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

Institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of Glacier Bancorp by 0.9% during the 1st quarter. CWM LLC now owns 35,864 shares of the bank’s stock valued at $1,445,000 after purchasing an additional 331 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Glacier Bancorp by 0.3% during the first quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock valued at $5,609,000 after buying an additional 370 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Glacier Bancorp by 2.6% during the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock valued at $632,000 after buying an additional 427 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Glacier Bancorp by 0.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 96,208 shares of the bank’s stock valued at $3,875,000 after buying an additional 585 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Glacier Bancorp by 6.7% in the 2nd quarter. Inspire Investing LLC now owns 9,472 shares of the bank’s stock worth $353,000 after acquiring an additional 593 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

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.