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

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

A number of other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. DA Davidson cut their price objective on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Truist Financial cut their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday. Finally, Raymond James lifted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. 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 company’s stock. According to data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Stock Performance

NASDAQ:GBCI traded up $0.34 during mid-day trading on Tuesday, reaching $38.03. The stock had a trading volume of 65,451 shares, compared to its average volume of 757,797. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 21.87 and a beta of 0.80. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The business has a 50 day simple moving average of $37.80 and a 200 day simple moving average of $36.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm 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%. Glacier Bancorp’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, analysts expect that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Institutional Trading of Glacier Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after buying an additional 479 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Glacier Bancorp during the 4th quarter worth $25,000. Allspring Global Investments Holdings LLC purchased a new stake in Glacier Bancorp during the 1st quarter worth $25,000. FNY Investment Advisers LLC purchased a new stake in Glacier Bancorp during the 4th quarter worth $28,000. Finally, Selway Asset Management purchased a new stake in Glacier Bancorp during the 3rd quarter worth $47,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.