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

Glacier Bancorp (NASDAQ:GBCI) had its price target lowered by analysts at Stephens from $44.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ price target would indicate a potential upside of 5.46% from the company’s current price.

Several other equities research analysts have also commented on GBCI. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Truist Financial decreased their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Monday. Raymond James raised their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, DA Davidson decreased their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday. 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 data from MarketBeat.com, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $37.93 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 21.67 and a beta of 0.80. The company’s fifty day moving average is $37.91 and its 200 day moving average is $36.83.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. During the same quarter in the previous year, the firm earned $0.55 EPS. Glacier Bancorp’s quarterly revenue was down 8.2% on a year-over-year basis. Sell-side analysts forecast that Glacier Bancorp will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of GBCI. Allworth Financial LP increased its holdings in Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after buying an additional 479 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Glacier Bancorp in the first quarter worth $25,000. GAMMA Investing LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter worth $25,000. FNY Investment Advisers LLC bought a new position in shares of Glacier Bancorp during the fourth quarter worth $28,000. Finally, Selway Asset Management bought a new position in shares of Glacier Bancorp during the third quarter worth $47,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

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.