Stephens Reiterates Equal Weight Rating for Glacier Bancorp (NASDAQ:GBCI)

Glacier Bancorp (NASDAQ:GBCI)‘s stock had its “equal weight” rating restated by stock analysts at Stephens in a research note issued to investors on Friday, Benzinga reports. They presently have a $44.00 price target on the bank’s stock. Stephens’ price target would suggest a potential upside of 19.60% from the stock’s current price.

GBCI has been the topic of a number of other research reports. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. 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. Finally, Truist Financial reduced their target price on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Glacier Bancorp presently has an average rating of “Hold” and a consensus target price of $40.40.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock traded up $1.69 on Friday, hitting $36.79. The stock had a trading volume of 163,039 shares, compared to its average volume of 749,072. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 18.01 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The business’s 50 day moving average is $37.79 and its two-hundred day moving average is $36.53.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The firm had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Analysts forecast that Glacier Bancorp will post 1.82 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its position in Glacier Bancorp by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,668 shares of the bank’s stock valued at $1,492,000 after purchasing an additional 926 shares during the last quarter. US Bancorp DE raised its holdings in Glacier Bancorp by 2.9% in the 1st quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock valued at $559,000 after buying an additional 308 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in Glacier Bancorp during the 1st quarter worth approximately $410,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Glacier Bancorp by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,755 shares of the bank’s stock worth $1,999,000 after acquiring an additional 3,791 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Glacier Bancorp by 6.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 58,637 shares of the bank’s stock valued at $3,029,000 after acquiring an additional 3,729 shares during the period. 80.17% of the stock is currently owned by institutional investors.

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.