Keefe, Bruyette & Woods Increases Glacier Bancorp (NASDAQ:GBCI) Price Target to $62.00

Glacier Bancorp (NASDAQ:GBCI) had its target price raised by stock 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 target would indicate a potential upside of 9.62% from the company’s previous close.

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

Glacier Bancorp Stock Down 1.0 %

NASDAQ:GBCI opened at $56.56 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $52.01 and a 200-day moving average of $44.83. The firm has a market capitalization of $6.41 billion, a PE ratio of 34.91 and a beta of 0.79. Glacier Bancorp has a 52 week low of $34.35 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same period in the prior year, the business earned $0.47 EPS. Analysts predict that Glacier Bancorp will post 1.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp lifted its position in Glacier Bancorp by 79.2% in the third quarter. Synovus Financial Corp now owns 32,484 shares of the bank’s stock worth $1,485,000 after purchasing an additional 14,359 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Glacier Bancorp in the 3rd quarter worth $1,568,000. Geode Capital Management LLC lifted its holdings in shares of Glacier Bancorp by 1.4% in 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 period. M&T Bank Corp boosted its stake in Glacier Bancorp by 2.7% during the third quarter. M&T Bank Corp now owns 110,752 shares of the bank’s stock valued at $5,062,000 after buying an additional 2,939 shares in the last quarter. Finally, Barclays PLC grew its holdings in Glacier Bancorp by 65.6% during the third quarter. Barclays PLC now owns 247,717 shares of the bank’s stock worth $11,321,000 after acquiring an additional 98,158 shares during the period. 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.