Piper Sandler Has Lowered Expectations for Glacier Bancorp (NASDAQ:GBCI) Stock Price

Glacier Bancorp (NASDAQ:GBCI) had its price objective cut by analysts at Piper Sandler from $57.00 to $54.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target points to a potential upside of 6.81% from the stock’s current price.

GBCI has been the subject of several other reports. Raymond James reiterated an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Keefe, Bruyette & Woods increased their target price on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial lifted their target price 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 research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $51.50.

Glacier Bancorp Trading Down 0.1 %

Glacier Bancorp stock traded down $0.05 during mid-day trading on Monday, reaching $50.56. 55,240 shares of the company traded hands, compared to its average volume of 602,317. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. Glacier Bancorp has a 52-week low of $34.35 and a 52-week high of $60.67. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 31.28 and a beta of 0.81. The firm’s 50 day moving average price is $53.10 and its 200 day moving average price is $48.69.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (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 analysts’ expectations of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, analysts anticipate that Glacier Bancorp will post 1.73 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 the business. Mather Group LLC. grew its stake in Glacier Bancorp by 97.6% during the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock valued at $37,000 after acquiring an additional 362 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Glacier Bancorp by 60.4% in 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 during the last quarter. Venturi Wealth Management LLC boosted its stake in Glacier Bancorp by 44.8% during the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after buying an additional 927 shares during the last quarter. Wolverine Trading LLC bought a new position in shares of Glacier Bancorp during the 3rd quarter valued at approximately $205,000. Finally, Blue Trust Inc. raised its position in shares of Glacier Bancorp by 192.9% during the 4th quarter. Blue Trust Inc. now owns 5,087 shares of the bank’s stock valued at $232,000 after buying an additional 3,350 shares in the last quarter. 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.