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

Glacier Bancorp (NASDAQ:GBCI) had its target price cut by investment analysts at Truist Financial from $42.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s price target suggests a potential upside of 4.22% from the company’s current price.

Other analysts have also recently issued reports about the company. Raymond James upped 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. Stephens reaffirmed an “equal weight” rating and set a $44.00 price objective on shares of Glacier Bancorp in a research note on Friday, April 19th. Finally, StockNews.com upgraded Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. 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.com, Glacier Bancorp has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Stock Performance

GBCI stock opened at $38.38 on Monday. The company has a 50 day moving average price of $37.86 and a 200 day moving average price of $36.82. 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 stock has a market capitalization of $4.35 billion, a PE ratio of 21.93 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data 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 firm had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. Analysts forecast that Glacier Bancorp will post 1.82 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of Glacier Bancorp by 3.2% during the fourth quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock worth $396,000 after buying an additional 300 shares during the period. Xponance Inc. boosted its position in Glacier Bancorp by 2.0% during the fourth quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock valued at $676,000 after purchasing an additional 326 shares during the last quarter. CWM LLC boosted its position in Glacier Bancorp by 0.9% during 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Glacier Bancorp by 14.5% during 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 during the last quarter. Finally, Arizona State Retirement System boosted its position in Glacier Bancorp by 1.4% during 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 during the last quarter. 80.17% of the stock is 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.