Glacier Bancorp (NASDAQ:GBCI) Price Target Raised to $58.00 at DA Davidson

Glacier Bancorp (NASDAQ:GBCI) had its price target boosted by DA Davidson from $55.00 to $58.00 in a report published on Monday morning, MarketBeat reports. They currently have a buy rating on the bank’s stock.

A number of other analysts have also recently issued reports on GBCI. Keefe, Bruyette & Woods raised Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Monday, December 15th. Piper Sandler raised shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $50.00 to $58.00 in a report on Thursday, December 18th. Finally, Raymond James Financial cut their price objective on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Glacier Bancorp Stock Up 1.1%

Glacier Bancorp stock opened at $48.54 on Monday. Glacier Bancorp has a 1-year low of $36.76 and a 1-year high of $51.50. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 29.07 and a beta of 0.75. 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 firm has a 50 day simple moving average of $44.88 and a 200 day simple moving average of $45.57.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, January 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same period in the previous year, the company posted $0.54 EPS. On average, analysts predict that Glacier Bancorp will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, December 9th. Glacier Bancorp’s payout ratio is currently 66.33%.

Insider Activity at Glacier Bancorp

In other news, CEO Randall M. Chesler acquired 2,437 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was purchased at an average cost of $40.91 per share, for a total transaction of $99,697.67. Following the acquisition, the chief executive officer owned 7,422 shares of the company’s stock, valued at $303,634.02. This trade represents a 48.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Thomas Screnar acquired 979 shares of Glacier Bancorp stock in a transaction dated Thursday, November 6th. The shares were purchased at an average price of $41.88 per share, for a total transaction of $41,000.52. Following the completion of the transaction, the insider directly owned 10,842 shares in the company, valued at approximately $454,062.96. The trade was a 9.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 8,852 shares of company stock valued at $364,484 over the last ninety days. 0.53% of the stock is currently owned by insiders.

Institutional Trading of Glacier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of Glacier Bancorp by 1.9% during the second quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank’s stock worth $544,000 after acquiring an additional 240 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Glacier Bancorp by 9.5% in the 2nd quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock valued at $129,000 after purchasing an additional 260 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Glacier Bancorp by 20.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,609 shares of the bank’s stock valued at $78,000 after purchasing an additional 273 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Glacier Bancorp by 9.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,706 shares of the bank’s stock worth $163,000 after purchasing an additional 306 shares during the period. Finally, M&T Bank Corp raised its position in Glacier Bancorp by 0.4% in the 2nd quarter. M&T Bank Corp now owns 69,744 shares of the bank’s stock worth $3,004,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.