Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) PT at $50.50

Key Points

• Glacier Bancorp, Inc. has received an average recommendation of "Moderate Buy" from brokerages, with a twelve-month price target of $50.50 among analysts.
• The company recently reported quarterly earnings of $0.45 per share, which fell short of analysts' expectations of $0.49, though it showed an improvement from $0.39 the previous year.
• Glacier Bancorp declared a quarterly dividend of $0.33, reflecting a 2.7% annual yield, and has a dividend payout ratio of 68.75%.

Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $50.50.

A number of analysts recently issued reports on GBCI shares. DA Davidson reissued a "buy" rating and set a $50.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Keefe, Bruyette & Woods lifted their price objective on Glacier Bancorp from $52.00 to $55.00 and gave the company a "market perform" rating in a research report on Thursday. Piper Sandler lifted their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective for the company in a research report on Thursday, June 5th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th.

Glacier Bancorp Stock Up 0.8%

GBCI traded up $0.41 during trading on Friday, reaching $49.20. 1,043,684 shares of the stock traded hands, compared to its average volume of 712,708. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 29.46 and a beta of 0.79. Glacier Bancorp has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The stock's 50-day simple moving average is $45.50 and its two-hundred day simple moving average is $43.88.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period last year, the firm posted $0.39 EPS. As a group, equities research analysts expect that Glacier Bancorp will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's payout ratio is currently 68.75%.

Insider Buying and Selling at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total value of $35,392.00. Following the sale, the insider directly owned 11,918 shares in the company, valued at approximately $527,252.32. This represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On Glacier Bancorp

A number of large investors have recently bought and sold shares of GBCI. Janney Montgomery Scott LLC lifted its holdings in Glacier Bancorp by 1.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank's stock worth $544,000 after buying an additional 240 shares in the last quarter. AlphaQuest LLC raised its holdings in Glacier Bancorp by 9.5% during the 2nd quarter. AlphaQuest LLC now owns 3,001 shares of the bank's stock worth $129,000 after buying an additional 260 shares during the period. CWM LLC lifted its position in Glacier Bancorp by 0.7% in the 1st quarter. CWM LLC now owns 39,635 shares of the bank's stock valued at $1,753,000 after acquiring an additional 285 shares in the last quarter. Mariner LLC boosted its position in shares of Glacier Bancorp by 2.4% during the fourth quarter. Mariner LLC now owns 12,430 shares of the bank's stock worth $624,000 after buying an additional 292 shares during the period. Finally, State of Michigan Retirement System grew its holdings in shares of Glacier Bancorp by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,136 shares of the bank's stock worth $1,200,000 after buying an additional 300 shares in the last quarter. 80.17% of the stock is currently owned by 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.