Stephens Reaffirms Equal Weight Rating for Glacier Bancorp (NASDAQ:GBCI)

Glacier Bancorp (NASDAQ:GBCI - Get Free Report)'s stock had its "equal weight" rating reissued by investment analysts at Stephens in a research note issued on Friday, Benzinga reports. They presently have a $44.00 price objective on the bank's stock. Stephens' price objective would indicate a potential upside of 19.08% from the company's previous close.

GBCI has been the topic of a number of other research reports. StockNews.com raised Glacier Bancorp to a "sell" rating in a research note on Tuesday, March 19th. Raymond James lifted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, January 5th. Finally, Truist Financial dropped their target price on Glacier Bancorp from $45.00 to $42.00 and set a "hold" rating for the company in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Glacier Bancorp presently has a consensus rating of "Hold" and a consensus target price of $40.40.

Glacier Bancorp Price Performance

GBCI traded up $1.85 on Friday, hitting $36.95. 1,522,436 shares of the company's stock traded hands, compared to its average volume of 767,244. The company's 50 day simple moving average is $37.80 and its 200-day simple moving average is $36.59. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 18.38 and a beta of 0.80. Glacier Bancorp has a one year low of $26.77 and a one year high of $44.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 19.63% and a return on equity of 7.59%. The business had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same period last year, the business posted $0.55 EPS. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Glacier Bancorp will post 1.82 EPS for the current year.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Glacier Bancorp by 3.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,668 shares of the bank's stock valued at $1,492,000 after acquiring an additional 926 shares during the period. US Bancorp DE boosted its holdings in Glacier Bancorp by 2.9% during the 1st quarter. US Bancorp DE now owns 11,115 shares of the bank's stock valued at $559,000 after acquiring an additional 308 shares during the period. AlphaCrest Capital Management LLC purchased a new position in Glacier Bancorp during the 1st quarter valued at $410,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Glacier Bancorp by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,755 shares of the bank's stock valued at $1,999,000 after acquiring an additional 3,791 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Glacier Bancorp by 6.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 58,637 shares of the bank's stock valued at $3,029,000 after acquiring an additional 3,729 shares during the period. 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.