Analysts Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Price Target at $51.50

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $51.50.

A number of brokerages have commented on GBCI. Keefe, Bruyette & Woods upped their price target on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James restated an “outperform” rating and issued a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Piper Sandler reduced their price target on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Stephens upgraded Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Hedge Funds Weigh In On Glacier Bancorp

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Glacier Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after buying an additional 41,160 shares during the last quarter. Capital International Investors boosted its stake in Glacier Bancorp by 5.8% during the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock valued at $105,089,000 after buying an additional 115,620 shares during the last quarter. Northern Trust Corp boosted its stake in Glacier Bancorp by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock valued at $88,587,000 after buying an additional 126,316 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Glacier Bancorp by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after buying an additional 280,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Glacier Bancorp by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock valued at $74,402,000 after buying an additional 49,006 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $44.23 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $49.28 and a two-hundred day simple moving average of $49.98. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 26.49 and a beta of 0.77. Glacier Bancorp has a 52 week low of $34.35 and a 52 week high of $60.67.

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.