Glacier Bancorp (NASDAQ:GBCI) Rating Increased to Buy at Janney Montgomery Scott

Glacier Bancorp (NASDAQ:GBCI) was upgraded by Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat.com reports.

A number of other analysts have also weighed in on GBCI. Raymond James set a $45.00 price objective on shares of Glacier Bancorp in a research note on Monday, April 28th. Stephens upgraded shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.50.

Glacier Bancorp Stock Down 1.2%

Shares of Glacier Bancorp stock opened at $41.34 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $41.17 and a 200 day moving average of $47.28. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 24.75 and a beta of 0.77. Glacier Bancorp has a 1 year low of $34.48 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share 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 last year, the company posted $0.29 earnings per share. As a group, sell-side analysts anticipate that Glacier Bancorp will post 2.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in GBCI. Wood Tarver Financial Group LLC purchased a new position in shares of Glacier Bancorp in the fourth quarter worth approximately $33,000. JNBA Financial Advisors purchased a new position in Glacier Bancorp during the first quarter valued at approximately $35,000. Mather Group LLC. lifted its holdings in Glacier Bancorp by 97.6% during the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock valued at $37,000 after purchasing an additional 362 shares in the last quarter. UMB Bank n.a. lifted its holdings in Glacier Bancorp by 114.9% during the first quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock valued at $37,000 after purchasing an additional 448 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Glacier Bancorp by 252.1% during the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,001 shares in the last quarter. 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.