Glacier Bancorp’s (GBCI) “Buy” Rating Reiterated at DA Davidson

Glacier Bancorp (NYSE:GBCI)‘s stock had its “buy” rating reissued by equities research analysts at DA Davidson in a research note issued on Monday,Benzinga reports. They currently have a $58.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 16.59% from the stock’s current price.

GBCI has been the subject of a number of other reports. Stephens boosted their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Glacier Bancorp in a report on Monday, July 20th. Finally, Piper Sandler lifted their target price on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Stock Performance

Shares of GBCI stock traded down $0.53 on Monday, reaching $49.74. The stock had a trading volume of 266,444 shares, compared to its average volume of 1,056,987. The stock has a market cap of $6.47 billion, a P/E ratio of 20.38 and a beta of 0.72. Glacier Bancorp has a 1 year low of $39.90 and a 1 year high of $54.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50 day simple moving average of $49.70 and a 200 day simple moving average of $48.34.

Glacier Bancorp (NYSE:GBCI) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, meeting 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 quarter last year, the company posted $0.57 EPS. Equities research analysts expect that Glacier Bancorp will post 3.17 EPS for the current year.

Institutional Trading of Glacier Bancorp

Several institutional investors have recently made changes to their positions in the business. Assetmark Inc. raised its stake in Glacier Bancorp by 33.9% during the 1st quarter. Assetmark Inc. now owns 813 shares of the company’s stock valued at $36,000 after purchasing an additional 206 shares during the period. Front Street Capital Management Inc. boosted its stake in Glacier Bancorp by 1.1% in the 4th quarter. Front Street Capital Management Inc. now owns 19,335 shares of the company’s stock worth $852,000 after purchasing an additional 213 shares during the period. MML Investors Services LLC boosted its stake in Glacier Bancorp by 4.6% in the 4th quarter. MML Investors Services LLC now owns 5,047 shares of the company’s stock worth $222,000 after purchasing an additional 221 shares during the period. Global Retirement Partners LLC grew its holdings in Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock valued at $34,000 after buying an additional 223 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Glacier Bancorp by 1.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,413 shares of the company’s stock valued at $855,000 after buying an additional 225 shares in the last quarter. Hedge funds and other 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.