Glacier Bancorp (NASDAQ:GBCI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Glacier Bancorp (NASDAQ:GBCI) had its price target hoisted by analysts at Keefe, Bruyette & Woods from $50.00 to $62.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 9.62% from the company’s previous close.

Several other brokerages also recently issued reports on GBCI. Truist Financial upped their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Piper Sandler increased their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, Raymond James upped their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $48.83.

Glacier Bancorp Stock Performance

Shares of GBCI traded down $0.73 during mid-day trading on Wednesday, hitting $56.56. The stock had a trading volume of 96,773 shares, compared to its average volume of 640,316. The firm has a market cap of $6.41 billion, a P/E ratio of 34.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day moving average price of $51.52 and a 200-day moving average price of $44.66. Glacier Bancorp has a 52 week low of $34.35 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same period last year, the firm earned $0.47 earnings per share. On average, equities research analysts expect that Glacier Bancorp will post 1.7 EPS for the current year.

Institutional Trading of Glacier Bancorp

Several institutional investors have recently added to or reduced their stakes in GBCI. Thrivent Financial for Lutherans grew its holdings in Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after acquiring an additional 280,255 shares during the last quarter. Millennium Management LLC raised its holdings in Glacier Bancorp by 131.9% in the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after buying an additional 271,398 shares during the period. Sei Investments Co. lifted its holdings in shares of Glacier Bancorp by 123.9% during the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after purchasing an additional 183,757 shares during the period. Ceredex Value Advisors LLC increased its position in Glacier Bancorp by 145.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after purchasing an additional 182,600 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Glacier Bancorp by 187.1% in the 2nd quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock valued at $9,442,000 after purchasing an additional 164,897 shares in the last quarter. 80.17% of the stock is currently owned by 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.