Piper Sandler Boosts Glacier Bancorp (NASDAQ:GBCI) Price Target to $57.00

Glacier Bancorp (NASDAQ:GBCI) had its price target raised by equities researchers at Piper Sandler from $56.00 to $57.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 13.50% from the stock’s previous close.

A number of other equities analysts also recently commented on GBCI. Truist Financial boosted 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 reissued an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and a consensus target price of $52.00.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $50.22 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 31.00 and a beta of 0.81. The stock’s 50-day moving average is $53.89 and its two-hundred day moving average is $47.90. 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 earnings per share for the quarter, beating 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 firm had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter last year, the company earned $0.47 earnings per share. Analysts forecast that Glacier Bancorp will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Glacier Bancorp by 16.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,191 shares of the bank’s stock valued at $679,000 after acquiring an additional 2,520 shares during the period. Envestnet Asset Management Inc. increased its stake in Glacier Bancorp by 1.7% in the second quarter. Envestnet Asset Management Inc. now owns 190,282 shares of the bank’s stock valued at $7,101,000 after purchasing an additional 3,242 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Glacier Bancorp by 9.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,125,955 shares of the bank’s stock valued at $42,021,000 after buying an additional 99,811 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Glacier Bancorp by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock worth $97,450,000 after buying an additional 103,374 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Glacier Bancorp during the second quarter worth about $2,523,000. Institutional investors and hedge funds 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.