Glacier Bancorp (NASDAQ:GBCI) PT Raised to $50.00

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

Several other brokerages have also commented on GBCI. Piper Sandler reissued a neutral rating and set a $38.00 price target on shares of Glacier Bancorp in a research note on Tuesday, August 27th. StockNews.com raised Glacier Bancorp to a sell rating in a report on Thursday, June 6th. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $43.80.

Glacier Bancorp Trading Down 0.5 %

NASDAQ:GBCI opened at $46.01 on Friday. Glacier Bancorp has a 1 year low of $27.36 and a 1 year high of $47.71. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average price of $44.15 and a two-hundred day moving average price of $39.87. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 26.29 and a beta of 0.80.

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

Insider Activity at Glacier Bancorp

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the completion of the transaction, the director now owns 9,402 shares of the company’s stock, valued at $418,859.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the transaction, 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 accessible through this link. Also, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the sale, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp in the first quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in Glacier Bancorp in the 2nd quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Glacier Bancorp during the 1st quarter valued at about $50,000. GAMMA Investing LLC lifted its holdings in shares of Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after acquiring an additional 772 shares during the period. Finally, TFO Wealth Partners LLC boosted its position in shares of Glacier Bancorp by 66,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock worth $164,000 after acquiring an additional 3,966 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

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.