Glacier Bancorp (NASDAQ:GBCI) Given New $50.00 Price Target at Keefe, Bruyette & Woods

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) had its price target reduced by equities researchers at Keefe, Bruyette & Woods from $55.00 to $50.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 23.46% from the stock's current price.

A number of other research analysts also recently issued reports on GBCI. Piper Sandler decreased their price target on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Raymond James reiterated an "outperform" rating and issued a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. Finally, Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $53.00.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI traded down $0.31 during trading on Monday, reaching $40.50. 96,604 shares of the company traded hands, compared to its average volume of 613,511. The stock has a market cap of $4.60 billion, a P/E ratio of 24.25 and a beta of 0.80. The firm's fifty day simple moving average is $43.58 and its 200 day simple moving average is $49.16. 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 has a 12-month low of $34.48 and a 12-month high of $60.67.

Institutional Investors Weigh In On Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Glacier Bancorp in the 4th quarter valued at about $56,923,000. Madison Investment Advisors LLC acquired a new stake in shares of Glacier Bancorp in the fourth quarter worth approximately $47,770,000. Millennium Management LLC increased its position in shares of Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock worth $47,010,000 after purchasing an additional 916,163 shares in the last quarter. JPMorgan Chase & Co. raised 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 purchasing an additional 242,414 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Glacier Bancorp in the 4th quarter valued at $9,544,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.