Brokerages Set Glacier Bancorp, Inc. (NASDAQ:GBCI) Target Price at $55.67

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $55.6667.

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. DA Davidson raised their price target on Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Stephens set a $58.00 price target on Glacier Bancorp in a report on Monday, January 26th. Janney Montgomery Scott started coverage on Glacier Bancorp in a report on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 price objective on the stock. Finally, Piper Sandler set a $59.00 target price on shares of Glacier Bancorp and gave the company an “overweight” rating in a research note on Wednesday, February 11th.

Glacier Bancorp Price Performance

GBCI stock opened at $49.04 on Friday. Glacier Bancorp has a one year low of $36.76 and a one year high of $53.99. The firm has a 50-day moving average of $48.44 and a two-hundred day moving average of $46.46. The firm has a market capitalization of $6.37 billion, a PE ratio of 29.37 and a beta of 0.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, January 22nd. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the previous year, the company earned $0.54 earnings per share. On average, analysts forecast that Glacier Bancorp will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds have recently bought and sold shares of the business. MidFirst Bank bought a new stake in shares of Glacier Bancorp during the 4th quarter worth about $253,000. Invesco Ltd. lifted its holdings in Glacier Bancorp by 1.8% in the 4th quarter. Invesco Ltd. now owns 213,884 shares of the bank’s stock worth $9,422,000 after purchasing an additional 3,738 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Glacier Bancorp by 11.8% in the 4th quarter. Corient Private Wealth LLC now owns 9,726 shares of the bank’s stock worth $431,000 after purchasing an additional 1,026 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Glacier Bancorp by 28.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,751 shares of the bank’s stock worth $1,355,000 after purchasing an additional 6,788 shares during the period. Finally, Front Street Capital Management Inc. grew its holdings in Glacier Bancorp by 1.1% during the fourth quarter. Front Street Capital Management Inc. now owns 19,335 shares of the bank’s stock valued at $852,000 after purchasing an additional 213 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.