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

Glacier Bancorp (NASDAQ:GBCI) had its price target raised by stock analysts at Truist Financial from $46.00 to $50.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s price target points to a potential upside of 8.13% from the stock’s previous close.

GBCI has been the subject of several other research reports. Piper Sandler restated a “neutral” rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research note on Tuesday, August 27th. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and an average price target of $43.80.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $46.24 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a 1 year low of $26.83 and a 1 year high of $47.71. The company has a market capitalization of $5.24 billion, a PE ratio of 26.42 and a beta of 0.80. The company has a fifty day moving average of $44.06 and a two-hundred day moving average of $39.83.

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

Insider Buying and Selling

In related news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction dated Wednesday, July 31st. The shares were 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 directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Don J. Chery sold 1,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in Glacier Bancorp in the first quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in Glacier Bancorp in the second quarter valued at about $25,000. Headlands Technologies LLC purchased a new position in Glacier Bancorp in the first quarter valued at about $50,000. GAMMA Investing LLC increased its holdings in Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after buying an additional 772 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its holdings in Glacier Bancorp by 66,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock valued at $164,000 after buying an additional 3,966 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

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.