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

Glacier Bancorp (NYSE:GBCI) had its price objective hoisted by DA Davidson from $53.00 to $58.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

GBCI has been the subject of a number of other reports. Keefe, Bruyette & Woods reiterated an “underperform” rating on shares of Glacier Bancorp in a report on Monday, January 26th. Wall Street Zen raised Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Brean Capital lowered shares of Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Piper Sandler boosted their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.83.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $49.37 on Monday. The business has a 50-day moving average price of $46.39 and a two-hundred day moving average price of $45.77. Glacier Bancorp has a 1-year low of $39.77 and a 1-year high of $53.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.42 billion, a P/E ratio of 23.07 and a beta of 0.73.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The company had revenue of $306.76 million for the quarter. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, analysts anticipate that Glacier Bancorp will post 3.17 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Tuesday, April 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio (DPR) is 61.68%.

Hedge Funds Weigh In On Glacier Bancorp

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Glacier Bancorp during the fourth quarter worth $67,582,000. Vanguard Group Inc. grew its holdings in shares of Glacier Bancorp by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after buying an additional 870,335 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Glacier Bancorp during the first quarter worth about $33,197,000. Balyasny Asset Management L.P. bought a new stake in shares of Glacier Bancorp during the second quarter worth about $24,362,000. Finally, State Street Corp raised its holdings in shares of Glacier Bancorp by 9.9% in the 4th quarter. State Street Corp now owns 6,178,363 shares of the company’s stock worth $272,157,000 after acquiring an additional 557,873 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.