Stephens Trims Glacier Bancorp (NASDAQ:GBCI) Target Price to $40.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective cut by Stephens from $44.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens’ target price points to a potential upside of 5.18% from the company’s current price.

Several other brokerages have also recently issued reports on GBCI. Truist Financial decreased their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday. DA Davidson decreased their price objective on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Finally, Raymond James lifted their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Stock Performance

GBCI traded up $0.34 on Tuesday, reaching $38.03. 65,451 shares of the stock were exchanged, compared to its average volume of 757,797. The company’s 50-day moving average price is $37.80 and its 200 day moving average price is $36.76. Glacier Bancorp has a fifty-two week low of $26.77 and a fifty-two week high of $44.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $4.31 billion, a PE ratio of 21.87 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data 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 company had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that Glacier Bancorp will post 1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Glacier Bancorp

Several large investors have recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in Glacier Bancorp by 3.2% during the 4th quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock worth $396,000 after buying an additional 300 shares in the last quarter. Xponance Inc. increased its stake in Glacier Bancorp by 2.0% during the 4th quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock worth $676,000 after buying an additional 326 shares in the last quarter. CWM LLC grew its position in shares of Glacier Bancorp by 0.9% in the first quarter. CWM LLC now owns 35,864 shares of the bank’s stock valued at $1,445,000 after purchasing an additional 331 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Glacier Bancorp by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after purchasing an additional 413 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Glacier Bancorp by 1.4% in the third quarter. Arizona State Retirement System now owns 31,568 shares of the bank’s stock valued at $900,000 after purchasing an additional 427 shares in the last quarter. 80.17% of the stock is currently owned by hedge funds and other 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.