Raymond James Reaffirms Outperform Rating for Glacier Bancorp (NASDAQ:GBCI)

Glacier Bancorp (NASDAQ:GBCI)‘s stock had its “outperform” rating reissued by equities research analysts at Raymond James in a research report issued on Wednesday,Benzinga reports. They presently have a $55.00 price objective on the bank’s stock, up from their prior price objective of $52.00. Raymond James’ price target indicates a potential upside of 9.52% from the stock’s previous close.

A number of other research analysts also recently issued reports on GBCI. Piper Sandler increased their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Truist Financial lifted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $52.00.

Glacier Bancorp Stock Down 1.4 %

Shares of GBCI stock opened at $50.22 on Wednesday. Glacier Bancorp has a 12-month low of $34.35 and a 12-month high of $60.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $53.89 and a 200-day moving average of $47.90. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 31.00 and a beta of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The firm had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. During the same period in the prior year, the business earned $0.47 EPS. As a group, equities research analysts predict that Glacier Bancorp will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Glacier Bancorp

Several large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Glacier Bancorp by 2.6% during the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock worth $632,000 after buying an additional 427 shares during the last quarter. Cladis Investment Advisory LLC raised its holdings in shares of Glacier Bancorp by 1.6% in the 3rd quarter. Cladis Investment Advisory LLC now owns 32,698 shares of the bank’s stock valued at $1,494,000 after purchasing an additional 500 shares during the period. HighTower Advisors LLC lifted its stake in Glacier Bancorp by 9.4% in the 3rd quarter. HighTower Advisors LLC now owns 5,882 shares of the bank’s stock valued at $277,000 after purchasing an additional 507 shares during the last quarter. GAMMA Investing LLC grew its holdings in Glacier Bancorp by 20.9% during the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock worth $153,000 after purchasing an additional 526 shares during the period. Finally, Stifel Financial Corp grew its holdings in Glacier Bancorp by 0.3% during the third quarter. Stifel Financial Corp now owns 203,566 shares of the bank’s stock worth $9,303,000 after purchasing an additional 582 shares during the period. 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.