Glacier Bancorp (NASDAQ:GBCI) PT Lowered to $40.00

Glacier Bancorp (NASDAQ:GBCI) had its target price dropped by equities researchers at Stephens from $44.00 to $40.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Stephens’ price objective would suggest a potential upside of 5.46% from the stock’s current price.

A number of other research analysts have also weighed in on GBCI. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Raymond James raised their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Truist Financial lowered their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday. Finally, DA Davidson lowered their price objective on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.40.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $37.93 on Tuesday. The firm has a market capitalization of $4.30 billion, a P/E ratio of 21.67 and a beta of 0.80. 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’s 50-day simple moving average is $37.91 and its two-hundred day simple moving average is $36.83. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company 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 company’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cooke & Bieler LP increased its holdings in Glacier Bancorp by 34.0% in the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock valued at $133,847,000 after purchasing an additional 821,199 shares during the last quarter. Norges Bank purchased a new position in Glacier Bancorp during the fourth quarter worth about $32,617,000. Envestnet Asset Management Inc. raised its holdings in Glacier Bancorp by 361.0% during the third quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock worth $25,724,000 after purchasing an additional 706,833 shares in the last quarter. Capital Research Global Investors raised its holdings in Glacier Bancorp by 124.7% during the fourth quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank’s stock worth $49,622,000 after purchasing an additional 666,478 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Glacier Bancorp by 5,065.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 586,360 shares of the bank’s stock worth $24,228,000 after purchasing an additional 575,008 shares in the last quarter. 80.17% of the stock is 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.