Piper Sandler Boosts Glacier Bancorp (NASDAQ:GBCI) Price Target to $57.00

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) had its price target increased by investment analysts at Piper Sandler from $56.00 to $57.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. Piper Sandler's target price would indicate a potential upside of 12.05% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Raymond James reissued an "outperform" rating and issued a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Truist Financial increased their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $52.00.

Glacier Bancorp Stock Performance

NASDAQ GBCI traded up $0.11 during midday trading on Wednesday, hitting $50.87. The company had a trading volume of 538,678 shares, compared to its average volume of 604,320. The firm has a fifty day simple moving average of $54.03 and a two-hundred day simple moving average of $47.88. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 31.40 and a beta of 0.81. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp has a fifty-two week low of $34.35 and a fifty-two week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to analysts' expectations of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter in the prior year, the firm posted $0.47 EPS. Equities analysts forecast that Glacier Bancorp will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Oppenheimer Asset Management Inc. grew its position in shares of Glacier Bancorp by 16.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,191 shares of the bank's stock worth $679,000 after buying an additional 2,520 shares during the period. Envestnet Asset Management Inc. grew its holdings in Glacier Bancorp by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 190,282 shares of the bank's stock worth $7,101,000 after acquiring an additional 3,242 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Glacier Bancorp by 9.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,125,955 shares of the bank's stock valued at $42,021,000 after acquiring an additional 99,811 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Glacier Bancorp by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank's stock valued at $97,450,000 after acquiring an additional 103,374 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Glacier Bancorp in the second quarter valued at about $2,523,000. 80.17% of the stock is 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.