Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $51.50

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $51.50.

Several brokerages have weighed in on GBCI. Truist Financial raised their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their price target 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. Stephens raised Glacier Bancorp from an “equal weight” rating to an “overweight” rating in a report on Friday, February 7th. Raymond James reaffirmed an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Piper Sandler decreased their target price on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $50.12 on Monday. Glacier Bancorp has a 52 week low of $34.35 and a 52 week high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $5.68 billion, a P/E ratio of 30.01 and a beta of 0.80. The stock has a 50 day moving average of $51.28 and a 200-day moving average of $49.26.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.63%. Glacier Bancorp’s payout ratio is currently 79.04%.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. raised its position in shares of Glacier Bancorp by 97.6% during the 4th quarter. Mather Group LLC. now owns 733 shares of the bank’s stock worth $37,000 after buying an additional 362 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Glacier Bancorp during the fourth quarter valued at approximately $63,000. GAMMA Investing LLC raised its holdings in Glacier Bancorp by 60.4% during the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock worth $115,000 after purchasing an additional 947 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Glacier Bancorp by 44.8% during the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after purchasing an additional 927 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Glacier Bancorp by 17.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock worth $144,000 after purchasing an additional 431 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.