DA Davidson Lowers Glacier Bancorp (NASDAQ:GBCI) Price Target to $45.00

Glacier Bancorp (NASDAQ:GBCI) had its price target lowered by stock analysts at DA Davidson from $48.00 to $45.00 in a report released on Monday. The brokerage presently has a “buy” rating on the bank’s stock. DA Davidson’s price objective would indicate a potential upside of 23.25% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Truist Financial decreased their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday. Stephens restated an “equal weight” rating and set a $44.00 target price on shares of Glacier Bancorp in a research report on Friday. Raymond James upped their target price on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.20.

Glacier Bancorp Price Performance

NASDAQ GBCI traded down $0.43 on Monday, reaching $36.51. The company had a trading volume of 60,669 shares, compared to its average volume of 757,847. The firm’s 50 day moving average price is $37.80 and its 200 day moving average price is $36.70. Glacier Bancorp has a 12 month low of $26.77 and a 12 month high of $44.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.14 billion, a PE ratio of 20.53 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The business had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, equities analysts predict that Glacier Bancorp will post 1.82 earnings per share for the current year.

Hedge Funds Weigh In On Glacier Bancorp

A number of hedge funds have recently added to or reduced their stakes in GBCI. Berry Wealth Group LP bought a new position in shares of Glacier Bancorp during the first quarter valued at approximately $261,000. Ashton Thomas Private Wealth LLC boosted its stake in shares of Glacier Bancorp by 0.6% during the first quarter. Ashton Thomas Private Wealth LLC now owns 254,299 shares of the bank’s stock valued at $10,243,000 after purchasing an additional 1,610 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Glacier Bancorp by 2.3% during the first quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock valued at $1,097,000 after purchasing an additional 600 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp during the first quarter valued at approximately $25,000. Finally, Bridge City Capital LLC boosted its stake in shares of Glacier Bancorp by 0.8% during the first quarter. Bridge City Capital LLC now owns 104,445 shares of the bank’s stock valued at $4,207,000 after purchasing an additional 815 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Company Profile

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.