Glacier Bancorp, Inc. (GBCI) PT Set at $41.00 by SunTrust Banks, Inc.
Glacier Bancorp, Inc. (NASDAQ:GBCI) has been assigned a $41.00 price objective by research analysts at SunTrust Banks, Inc. in a report issued on Saturday. The brokerage presently has a “buy” rating on the bank’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 10.10% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies set a $38.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a research report on Monday, June 26th. Finally, Zacks Investment Research downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.33.
Glacier Bancorp (NASDAQ:GBCI) opened at 37.24 on Friday. The stock has a market capitalization of $2.90 billion, a PE ratio of 22.57 and a beta of 1.49. The firm has a 50-day moving average price of $35.61 and a 200-day moving average price of $34.73. Glacier Bancorp has a 52 week low of $27.31 and a 52 week high of $38.18.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Glacier Bancorp had a return on equity of 11.48% and a net margin of 27.69%. The business had revenue of $120.00 million for the quarter, compared to the consensus estimate of $121.07 million. Equities research analysts predict that Glacier Bancorp will post $1.78 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of GBCI. BlackRock Inc. raised its position in Glacier Bancorp by 50,940.2% during the first quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock valued at $327,084,000 after purchasing an additional 9,621,084 shares during the period. Franklin Resources Inc. raised its position in Glacier Bancorp by 2,008.0% during the second quarter. Franklin Resources Inc. now owns 1,355,443 shares of the bank’s stock valued at $49,623,000 after purchasing an additional 1,291,143 shares during the period. State Street Corp raised its position in Glacier Bancorp by 25.8% during the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock valued at $101,899,000 after purchasing an additional 615,216 shares during the period. Denver Investment Advisors LLC purchased a new stake in Glacier Bancorp during the second quarter valued at approximately $18,631,000. Finally, Koch Industries Inc. raised its position in Glacier Bancorp by 6,383.5% during the second quarter. Koch Industries Inc. now owns 415,853 shares of the bank’s stock valued at $405,000 after purchasing an additional 409,439 shares during the period. Institutional investors and hedge funds own 80.86% of the company’s stock.
Glacier Bancorp Company Profile
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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