Glacier Bancorp (NASDAQ:GBCI) Given New $45.00 Price Target at DA Davidson

Glacier Bancorp (NASDAQ:GBCI) had its target price cut by DA Davidson from $48.00 to $45.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. DA Davidson’s target price points to a potential upside of 17.25% from the stock’s previous close. DA Davidson also issued estimates for Glacier Bancorp’s Q2 2024 earnings at $0.41 EPS, FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

GBCI has been the topic of a number of other reports. Stephens reissued an “equal weight” rating and set a $44.00 target price on shares of Glacier Bancorp in a research report on Friday, April 19th. Truist Financial decreased 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. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Finally, Raymond James lifted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Trading Up 1.8 %

Glacier Bancorp stock opened at $38.38 on Monday. 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 business’s 50-day simple moving average is $37.86 and its 200-day simple moving average is $36.82. The firm has a market capitalization of $4.35 billion, a PE ratio of 21.93 and a beta of 0.80. Glacier Bancorp has a 52 week low of $26.77 and a 52 week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The firm had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period last year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities research analysts forecast that Glacier Bancorp will post 1.82 earnings per share for the current year.

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al boosted its holdings in shares of Glacier Bancorp by 536.2% in the 3rd quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock worth $3,193,000 after acquiring an additional 94,422 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Glacier Bancorp in the 3rd quarter worth approximately $956,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Glacier Bancorp by 30.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock worth $29,197,000 after acquiring an additional 239,168 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Glacier Bancorp in the 3rd quarter worth approximately $2,992,000. Finally, Boston Partners boosted its holdings in shares of Glacier Bancorp by 37.7% in the 3rd quarter. Boston Partners now owns 172,119 shares of the bank’s stock worth $4,905,000 after acquiring an additional 47,142 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

About Glacier Bancorp

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.