Glacier Bancorp's (GBCI) Buy Rating Reiterated at DA Davidson

Key Points

• DA Davidson reiterated its “Buy” rating on Glacier Bancorp and maintained a $58 price target, implying 16.59% upside from the prior close.
• Analyst sentiment is mixed overall: four analysts rate the stock Buy, three Hold, and one Sell, resulting in a consensus “Hold” rating and average price target of $55.17.
• Glacier Bancorp reported quarterly EPS of $0.76, in line with estimates, and revenue of $320.94 million. Shares recently traded near $49.74, while institutional investors own 80.17% of the company.

Glacier Bancorp (NYSE:GBCI - Get Free Report)'s stock had its "buy" rating restated by DA Davidson in a report issued on Monday,Benzinga reports. They currently have a $58.00 price objective on the stock. DA Davidson's target price suggests a potential upside of 16.59% from the stock's previous close.

Several other brokerages have also commented on GBCI. Stephens upped their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Glacier Bancorp in a research note on Monday, July 20th. Finally, Piper Sandler raised their price objective on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $55.17.

Glacier Bancorp Trading Down 1.0%

Shares of GBCI traded down $0.53 during mid-day trading on Monday, hitting $49.74. 266,444 shares of the company's stock traded hands, compared to its average volume of 1,056,987. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.47 billion, a P/E ratio of 20.38 and a beta of 0.72. The business's 50-day moving average price is $49.70 and its 200-day moving average price is $48.34. Glacier Bancorp has a 1 year low of $39.90 and a 1 year high of $54.58.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, hitting analysts' consensus estimates of $0.76. The company had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period in the previous year, the business earned $0.57 EPS. As a group, sell-side analysts forecast that Glacier Bancorp will post 3.17 EPS for the current fiscal year.

Institutional Trading of Glacier Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in shares of Glacier Bancorp by 30.9% during the first quarter. AQR Capital Management LLC now owns 31,176 shares of the company's stock valued at $1,358,000 after purchasing an additional 7,359 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Glacier Bancorp by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company's stock worth $59,799,000 after buying an additional 73,756 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Glacier Bancorp by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company's stock worth $15,587,000 after buying an additional 26,157 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock valued at $31,000 after acquiring an additional 490 shares during the period. Finally, First Trust Advisors LP bought a new position in Glacier Bancorp during the 2nd quarter valued at about $2,011,000. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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