Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Price Target at $52.00

Glacier Bancorp, Inc. (NASDAQ:GBCI) has received a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $52.00.

A number of equities research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods upped their price target 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. Raymond James reissued an “outperform” rating and issued a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Finally, Piper Sandler upped their target price on Glacier Bancorp from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th.

Glacier Bancorp Stock Up 1.8 %

Shares of GBCI opened at $51.13 on Thursday. The stock’s 50-day moving average price is $53.66 and its two-hundred day moving average price is $48.17. Glacier Bancorp has a 12 month low of $34.35 and a 12 month high of $60.67. The company has a market capitalization of $5.80 billion, a PE ratio of 31.56 and a beta of 0.81. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

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

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.58%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Geode Capital Management LLC raised its position in shares of Glacier Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after purchasing an additional 41,160 shares during the period. Dimensional Fund Advisors LP increased its stake in Glacier Bancorp by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock valued at $97,450,000 after purchasing an additional 103,374 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Glacier Bancorp by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after buying an additional 280,255 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Glacier Bancorp by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock valued at $74,402,000 after buying an additional 49,006 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Glacier Bancorp by 0.4% during the third quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock valued at $70,134,000 after buying an additional 6,394 shares during the last quarter. Institutional investors 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.