Glacier Bancorp (NASDAQ:GBCI) Earns “Equal Weight” Rating from Stephens

Glacier Bancorp (NASDAQ:GBCI)‘s stock had its “equal weight” rating reissued by equities researchers at Stephens in a research report issued on Friday, Benzinga reports. They currently have a $44.00 price target on the bank’s stock. Stephens’ price objective would indicate a potential upside of 19.60% from the company’s current price.

A number of other research analysts also recently weighed in on GBCI. Raymond James lifted their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Truist Financial dropped their target price on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.40.

Glacier Bancorp Trading Up 4.8 %

Shares of GBCI traded up $1.69 during midday trading on Friday, hitting $36.79. The stock had a trading volume of 163,039 shares, compared to its average volume of 749,072. The business has a 50-day simple moving average of $37.79 and a two-hundred day simple moving average of $36.53. The firm has a market cap of $4.17 billion, a P/E ratio of 18.01 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. Glacier Bancorp has a fifty-two week low of $26.77 and a fifty-two week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The firm had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. During the same period in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities analysts forecast that Glacier Bancorp will post 1.82 EPS for the current year.

Institutional Investors Weigh In On Glacier Bancorp

Several institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its holdings in Glacier Bancorp by 150.3% in the fourth quarter. Morgan Stanley now owns 1,517,289 shares of the bank’s stock worth $74,984,000 after buying an additional 911,001 shares during the last quarter. Cooke & Bieler LP increased its stake in shares of Glacier Bancorp by 34.0% during the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after purchasing an additional 821,199 shares during the last quarter. Norges Bank acquired a new position in shares of Glacier Bancorp during the 4th quarter worth $32,617,000. Envestnet Asset Management Inc. raised its holdings in shares of Glacier Bancorp by 361.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock valued at $25,724,000 after purchasing an additional 706,833 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Glacier Bancorp by 124.7% in the 4th quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank’s stock valued at $49,622,000 after purchasing an additional 666,478 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.