Glacier Bancorp (NASDAQ:GBCI) Price Target Raised to $45.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective boosted by Piper Sandler from $42.00 to $45.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential downside of 14.46% from the stock’s current price.

A number of other research firms have also issued reports on GBCI. Truist Financial upped their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday. Raymond James upped their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.20.

Glacier Bancorp Trading Up 1.1 %

GBCI stock opened at $52.61 on Monday. Glacier Bancorp has a 12-month low of $29.35 and a 12-month high of $52.62. The business’s 50-day moving average is $46.01 and its 200 day moving average is $41.37. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 32.48 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The firm had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. During the same period in the previous year, the company posted $0.47 earnings per share. On average, sell-side analysts anticipate that Glacier Bancorp will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors have recently bought and sold shares of the company. Ceredex Value Advisors LLC grew its stake in shares of Glacier Bancorp by 4.2% in the 3rd quarter. Ceredex Value Advisors LLC now owns 321,500 shares of the bank’s stock valued at $14,693,000 after buying an additional 13,000 shares during the period. State of Alaska Department of Revenue grew its position in Glacier Bancorp by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 13,216 shares of the bank’s stock worth $603,000 after acquiring an additional 890 shares during the period. Argent Capital Management LLC increased its stake in Glacier Bancorp by 15.1% during the third quarter. Argent Capital Management LLC now owns 12,558 shares of the bank’s stock worth $574,000 after acquiring an additional 1,645 shares during the last quarter. Creative Planning raised its position in Glacier Bancorp by 19.0% in the third quarter. Creative Planning now owns 43,794 shares of the bank’s stock valued at $2,001,000 after purchasing an additional 7,002 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Glacier Bancorp by 60.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock valued at $115,000 after purchasing an additional 947 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

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.