Keefe, Bruyette & Woods Cuts Glacier Bancorp (NASDAQ:GBCI) Price Target to $55.00

Glacier Bancorp (NASDAQ:GBCI) had its price target decreased by Keefe, Bruyette & Woods from $56.00 to $55.00 in a research report released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Several other analysts have also recently commented on GBCI. Raymond James Financial set a $55.00 target price on shares of Glacier Bancorp and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. DA Davidson restated a “buy” rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Finally, Piper Sandler upped their target price on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.83.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $42.94 on Monday. The firm’s fifty day simple moving average is $47.82 and its 200-day simple moving average is $44.44. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 25.71 and a beta of 0.79. Glacier Bancorp has a 12 month low of $36.76 and a 12 month high of $60.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, equities analysts forecast that Glacier Bancorp will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, October 7th. Glacier Bancorp’s dividend payout ratio is 64.71%.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the transaction, the insider directly owned 11,918 shares in the company, valued at approximately $527,252.32. This represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

Several large investors have recently added to or reduced their stakes in GBCI. Geode Capital Management LLC increased its position in Glacier Bancorp by 2.0% in the second quarter. Geode Capital Management LLC now owns 2,993,108 shares of the bank’s stock worth $128,957,000 after buying an additional 59,421 shares during the period. Victory Capital Management Inc. grew its holdings in Glacier Bancorp by 9.1% during the first quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank’s stock worth $60,198,000 after acquiring an additional 113,544 shares during the period. Goldman Sachs Group Inc. grew its holdings in Glacier Bancorp by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock worth $59,799,000 after acquiring an additional 73,756 shares during the period. Deprince Race & Zollo Inc. grew its holdings in Glacier Bancorp by 41.5% during the third quarter. Deprince Race & Zollo Inc. now owns 1,272,041 shares of the bank’s stock worth $61,910,000 after acquiring an additional 373,196 shares during the period. Finally, Norges Bank purchased a new position in Glacier Bancorp in the 2nd quarter worth about $54,144,000. 80.17% of the stock is currently owned by institutional investors.

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.