Glacier Bancorp, Inc. (NYSE:GBCI) Stock Has Average Target Price of $55.17 According to Brokerages

Shares of Glacier Bancorp, Inc. (NYSE:GBCI) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $55.17.

GBCI has been the subject of several recent analyst reports. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. DA Davidson reaffirmed a “buy” rating and set a $58.00 price target on shares of Glacier Bancorp in a report on Monday, July 27th.

Insider Activity

In other Glacier Bancorp news, Chairman Craig Langel purchased 2,250 shares of the stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $47.04 per share, with a total value of $105,840.00. Following the acquisition, the chairman owned 98,684 shares of the company’s stock, valued at approximately $4,642,095.36. This represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Institutional Trading of Glacier Bancorp

Several large investors have recently bought and sold shares of GBCI. Geode Capital Management LLC boosted its stake in shares of Glacier Bancorp by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after purchasing an additional 237,316 shares in the last quarter. NFJ Investment Group LLC acquired a new stake in Glacier Bancorp in the second quarter valued at approximately $40,129,000. Hsbc Holdings PLC boosted its position in Glacier Bancorp by 881.8% in the fourth quarter. Hsbc Holdings PLC now owns 43,453 shares of the company’s stock valued at $1,919,000 after buying an additional 39,027 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Glacier Bancorp during the second quarter worth $62,719,000. Finally, Legal & General Group Plc bought a new position in shares of Glacier Bancorp in the 2nd quarter valued at $9,236,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

Shares of NYSE GBCI opened at $43.70 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s fifty day moving average price is $47.34 and its two-hundred day moving average price is $47.86. Glacier Bancorp has a one year low of $39.90 and a one year high of $54.58. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 17.91 and a beta of 0.72.

Glacier Bancorp (NYSE:GBCI) last posted its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. The company had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period in the prior year, the business posted $0.57 EPS. On average, equities analysts forecast that Glacier Bancorp will post 3.1 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, October 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.33. Glacier Bancorp’s dividend payout ratio (DPR) is 54.10%.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries and community banking divisions, the company provides financial services to individuals, families, businesses and organizations, with a focus on relationship-based community banking.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and agricultural loans, online and mobile banking, treasury management and other business banking services.