Truist Financial Raises Glacier Bancorp (NASDAQ:GBCI) Price Target to $50.00

Glacier Bancorp (NASDAQ:GBCI) had its target price upped by Truist Financial from $46.00 to $50.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other analysts have also issued reports on GBCI. Piper Sandler reiterated a neutral rating and set a $38.00 price objective on shares of Glacier Bancorp in a report on Tuesday, August 27th. StockNews.com raised Glacier Bancorp to a sell rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $43.80.

Glacier Bancorp Trading Down 2.6 %

Shares of NASDAQ GBCI opened at $46.24 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. Glacier Bancorp has a one year low of $26.83 and a one year high of $47.71. The business has a 50-day moving average price of $44.06 and a two-hundred day moving average price of $39.83. The firm has a market capitalization of $5.24 billion, a PE ratio of 26.42 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The firm had revenue of $306.04 million for the quarter, compared to the consensus estimate of $204.43 million. During the same period in the previous year, the firm posted $0.50 earnings per share. As a group, analysts predict that Glacier Bancorp will post 1.62 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Tuesday, July 9th. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the completion of the sale, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total value of $250,326.45. Following the transaction, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Glacier Bancorp during the 4th quarter valued at approximately $32,617,000. Capital Research Global Investors lifted its holdings in shares of Glacier Bancorp by 60.3% during the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after buying an additional 724,089 shares during the last quarter. Capital International Investors boosted its position in shares of Glacier Bancorp by 45.1% in the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock valued at $75,326,000 after acquiring an additional 566,513 shares during the period. Clifford Capital Partners LLC grew its stake in shares of Glacier Bancorp by 2,389.9% in the first quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock worth $12,088,000 after acquiring an additional 288,056 shares during the last quarter. Finally, Millennium Management LLC increased its position in Glacier Bancorp by 131.9% during the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after acquiring an additional 271,398 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

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.