Raymond James Reaffirms Outperform Rating for Glacier Bancorp (NASDAQ:GBCI)

Raymond James reaffirmed their outperform rating on shares of Glacier Bancorp (NASDAQ:GBCI - Free Report) in a report issued on Wednesday,Benzinga reports. Raymond James currently has a $55.00 price target on the bank's stock, up from their prior price target of $52.00.

GBCI has been the subject of several other reports. Truist Financial lifted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the company a "hold" rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods lifted their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Piper Sandler increased their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Glacier Bancorp currently has a consensus rating of "Hold" and an average price target of $52.00.

Glacier Bancorp Stock Performance

Shares of GBCI stock traded up $0.11 during trading hours on Wednesday, hitting $50.87. The company's stock had a trading volume of 538,678 shares, compared to its average volume of 604,320. The stock has a market cap of $5.77 billion, a PE ratio of 31.40 and a beta of 0.81. Glacier Bancorp has a 12-month low of $34.35 and a 12-month high of $60.67. The company has a 50 day moving average of $54.03 and a 200 day moving average of $47.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

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 company had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same period in the prior year, the company earned $0.47 earnings per share. On average, sell-side analysts forecast that Glacier Bancorp will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 10th were paid a $0.33 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.59%. Glacier Bancorp's dividend payout ratio is currently 81.48%.

Hedge Funds Weigh In On Glacier Bancorp

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Glacier Bancorp by 60.4% during the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank's stock worth $115,000 after purchasing an additional 947 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank's stock worth $137,000 after buying an additional 927 shares during the last quarter. Wolverine Trading LLC purchased a new stake in Glacier Bancorp during the 3rd quarter worth approximately $205,000. Intech Investment Management LLC acquired a new position in shares of Glacier Bancorp during the second quarter valued at approximately $207,000. Finally, Paloma Partners Management Co purchased a new position in shares of Glacier Bancorp in the third quarter valued at approximately $250,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.