Glacier Bancorp (NASDAQ:GBCI) Given "Buy" Rating at DA Davidson

Glacier Bancorp (NASDAQ:GBCI - Get Free Report)'s stock had its "buy" rating restated by equities researchers at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $50.00 target price on the bank's stock. DA Davidson's price target indicates a potential upside of 16.58% from the company's previous close.

Several other equities analysts have also issued reports on the company. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a research note on Thursday, June 5th. Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods decreased their target price on Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Raymond James Financial set a $45.00 price objective on Glacier Bancorp in a research note on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Glacier Bancorp Trading Up 1.8%

Glacier Bancorp stock traded up $0.74 during mid-day trading on Wednesday, hitting $42.89. 234,771 shares of the stock were exchanged, compared to its average volume of 647,525. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 25.66 and a beta of 0.77. Glacier Bancorp has a 12 month low of $35.26 and a 12 month high of $60.67. 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 firm's fifty day simple moving average is $41.56 and its two-hundred day simple moving average is $45.68.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period last year, the business earned $0.29 EPS. Analysts forecast that Glacier Bancorp will post 2.45 EPS for the current year.

Institutional Trading of Glacier Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Glacier Bancorp in the fourth quarter worth about $56,923,000. Madison Investment Advisors LLC purchased a new position in shares of Glacier Bancorp during the 4th quarter valued at $47,770,000. Millennium Management LLC lifted its holdings in Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock valued at $47,010,000 after purchasing an additional 916,163 shares during the last quarter. Nuveen LLC bought a new stake in shares of Glacier Bancorp in the first quarter valued at approximately $21,220,000. Finally, JPMorgan Chase & Co. grew its stake in Glacier Bancorp by 76.0% in the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock valued at $28,192,000 after buying an additional 242,414 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other 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.

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