Piper Sandler Issues Positive Forecast for Glacier Bancorp (NASDAQ:GBCI) Stock Price

Glacier Bancorp (NASDAQ:GBCI) had its price objective hoisted by Piper Sandler from $56.00 to $57.00 in a research report released on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other equities analysts also recently weighed in on GBCI. Truist Financial lifted 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. Raymond James reiterated an “outperform” rating and issued a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.00.

Glacier Bancorp Price Performance

GBCI opened at $50.87 on Wednesday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 29.44 and a beta of 0.81. 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 50-day moving average price of $54.03 and a 200-day moving average price of $47.88. Glacier Bancorp has a twelve month low of $34.35 and a twelve month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter last year, the company earned $0.47 earnings per share. Equities analysts expect that Glacier Bancorp will post 1.73 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.59%. Glacier Bancorp’s payout ratio is presently 81.48%.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Glacier Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after purchasing an additional 41,160 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Glacier Bancorp by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock worth $97,450,000 after acquiring an additional 103,374 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after acquiring an additional 280,255 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Glacier Bancorp by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after acquiring an additional 49,006 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Glacier Bancorp by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after acquiring an additional 6,394 shares during the last quarter. 80.17% of the stock is currently owned by 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.