Glacier Bancorp, Inc. (GBCI) Given a $38.00 Price Target at Piper Jaffray Companies

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been assigned a $38.00 target price by equities researchers at Piper Jaffray Companies in a report issued on Saturday, July 29th. The firm currently has a “hold” rating on the bank’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 15.22% from the company’s previous close.

GBCI has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $36.00 price target on shares of Glacier Bancorp in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Monday, June 26th. Finally, BidaskClub upgraded shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th.

Glacier Bancorp (GBCI) opened at 32.98 on Friday. The company has a 50-day moving average price of $35.23 and a 200 day moving average price of $34.83. The stock has a market cap of $2.57 billion, a P/E ratio of 19.99 and a beta of 1.44. Glacier Bancorp has a 1-year low of $27.31 and a 1-year high of $38.17.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $113.91 million for the quarter, compared to analysts’ expectations of $115.60 million. Glacier Bancorp had a return on equity of 11.02% and a net margin of 27.30%. During the same quarter in the prior year, the business earned $0.40 EPS. Equities analysts expect that Glacier Bancorp will post $1.78 earnings per share for the current fiscal year.

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In related news, Director James M. English sold 2,500 shares of Glacier Bancorp stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $36.65, for a total transaction of $91,625.00. Following the transaction, the director now owns 20,181 shares in the company, valued at approximately $739,633.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.65% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its position in Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock worth $105,000 after buying an additional 134 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Glacier Bancorp by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock worth $116,000 after buying an additional 283 shares during the period. PNC Financial Services Group Inc. boosted its position in Glacier Bancorp by 34.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock worth $135,000 after buying an additional 947 shares during the period. Advisor Group Inc. boosted its position in Glacier Bancorp by 23.7% in the second quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock worth $142,000 after buying an additional 744 shares during the period. Finally, Fiduciary Trust Co. purchased a new position in Glacier Bancorp during the second quarter worth $183,000. Institutional investors own 79.34% of the company’s stock.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.

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