Piper Sandler Raises Glacier Bancorp (NASDAQ:GBCI) Price Target to $45.00

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) had its target price increased by analysts at Piper Sandler from $42.00 to $45.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. Piper Sandler's price objective points to a potential downside of 13.53% from the company's previous close.

Several other analysts also recently commented on GBCI. Truist Financial upped their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a "hold" rating in a research report on Monday. Raymond James boosted their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $46.20.

Glacier Bancorp Stock Up 5.0 %

Shares of NASDAQ:GBCI traded up $2.46 during trading hours on Monday, reaching $52.04. The stock had a trading volume of 1,034,426 shares, compared to its average volume of 643,215. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 30.60 and a beta of 0.80. The firm's 50 day moving average is $45.66 and its 200-day moving average is $41.14. Glacier Bancorp has a 1 year low of $29.35 and a 1 year high of $52.14. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The business 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 6.06% and a net margin of 15.15%. During the same period in the prior year, the firm posted $0.47 EPS. Research analysts predict that Glacier Bancorp will post 1.63 earnings per share for the current fiscal year.

Insider Transactions at Glacier Bancorp

In related news, Director Annie M. Goodwin sold 5,619 shares of the company's stock in a transaction on 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 owns 9,402 shares of the company's stock, valued at $418,859.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.44% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Retirement Systems of Alabama grew its position in Glacier Bancorp by 0.3% during the first quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank's stock valued at $5,609,000 after acquiring an additional 370 shares during the period. Pacer Advisors Inc. increased its position in Glacier Bancorp by 2.6% during the 2nd quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank's stock worth $632,000 after purchasing an additional 427 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Glacier Bancorp by 0.6% in the first quarter. Texas Permanent School Fund Corp now owns 96,208 shares of the bank's stock valued at $3,875,000 after buying an additional 585 shares during the period. Inspire Investing LLC lifted its position in Glacier Bancorp by 6.7% during the second quarter. Inspire Investing LLC now owns 9,472 shares of the bank's stock valued at $353,000 after buying an additional 593 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in Glacier Bancorp by 2.3% during the first quarter. State of Michigan Retirement System now owns 27,236 shares of the bank's stock worth $1,097,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 80.17% of the company's stock.

About Glacier Bancorp

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.