Glacier Bancorp (NASDAQ:GBCI) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler has increased its price target for Glacier Bancorp from $47.00 to $49.00, indicating a potential upside of 5.71% from the stock's previous close.
• Glacier Bancorp has received a consensus rating of "Moderate Buy" from analysts, with an average target price of $50.00 and multiple firms issuing various buy and neutral ratings.
• The bank reported earnings of $0.45 per share for the last quarter, missing estimates, while showing a year-over-year EPS improvement from $0.39.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) had its price target lifted by Piper Sandler from $47.00 to $49.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. Piper Sandler's price target points to a potential upside of 5.71% from the stock's previous close.

Several other equities research analysts have also recently commented on GBCI. Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Thursday, June 5th. DA Davidson reissued a "buy" rating and set a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a research report on Friday, June 27th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Glacier Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Glacier Bancorp Stock Performance

GBCI traded up $1.05 during midday trading on Monday, reaching $46.36. The company had a trading volume of 264,885 shares, compared to its average volume of 698,936. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $5.26 billion, a PE ratio of 27.78 and a beta of 0.77. Glacier Bancorp has a 12-month low of $36.76 and a 12-month high of $60.67. The business has a 50-day moving average price of $43.32 and a two-hundred day moving average price of $44.64.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.04). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, sell-side analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in GBCI. American Century Companies Inc. raised its stake in shares of Glacier Bancorp by 1.4% in the fourth quarter. American Century Companies Inc. now owns 35,404 shares of the bank's stock valued at $1,778,000 after acquiring an additional 487 shares during the period. LPL Financial LLC raised its stake in shares of Glacier Bancorp by 52.6% in the fourth quarter. LPL Financial LLC now owns 111,045 shares of the bank's stock valued at $5,577,000 after acquiring an additional 38,294 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Glacier Bancorp by 76.0% in the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock valued at $28,192,000 after acquiring an additional 242,414 shares during the period. Norges Bank purchased a new stake in Glacier Bancorp in the 4th quarter valued at about $56,923,000. Finally, Pictet Asset Management Holding SA grew its stake in Glacier Bancorp by 32.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 19,515 shares of the bank's stock worth $980,000 after acquiring an additional 4,777 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

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.

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