Glacier Bancorp (NASDAQ:GBCI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) had its target price lifted by Keefe, Bruyette & Woods from $50.00 to $52.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 19.76% from the stock's current price.

Several other analysts also recently weighed in on GBCI. Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. DA Davidson reissued a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday. Raymond James Financial restated an "outperform" rating and set a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a report on Thursday. Finally, Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Thursday, June 5th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.83.

Glacier Bancorp Stock Down 0.5%

Glacier Bancorp stock traded down $0.21 on Friday, hitting $43.42. 350,956 shares of the stock traded hands, compared to its average volume of 653,666. Glacier Bancorp has a 1 year low of $35.57 and a 1 year high of $60.67. The firm has a market cap of $4.93 billion, a P/E ratio of 25.98 and a beta of 0.77. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The business's fifty day simple moving average is $41.71 and its 200 day simple moving average is $45.57.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company posted $0.29 earnings per share. As a group, sell-side analysts forecast that Glacier Bancorp will post 2.45 earnings per share for the current year.

Institutional Investors Weigh In On Glacier Bancorp

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $56,923,000. Madison Investment Advisors LLC bought a new position in Glacier Bancorp during the fourth quarter valued at approximately $47,770,000. Millennium Management LLC boosted its holdings in Glacier Bancorp by 4,600.1% in 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 during the last quarter. Nuveen LLC bought a new stake in Glacier Bancorp in the 1st quarter worth approximately $21,220,000. Finally, JPMorgan Chase & Co. grew its position in Glacier Bancorp by 76.0% in the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after purchasing an additional 242,414 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.

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