Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Glacier Bancorp (NASDAQ:GBCI) Stock

Glacier Bancorp (NASDAQ:GBCI) had its target price boosted by analysts at Keefe, Bruyette & Woods from $50.00 to $62.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 9.62% from the company’s current price.

Several other brokerages have also issued reports on GBCI. Piper Sandler lifted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Truist Financial increased their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James boosted their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.83.

Glacier Bancorp Stock Down 1.3 %

NASDAQ GBCI traded down $0.73 on Wednesday, hitting $56.56. 96,773 shares of the stock were exchanged, compared to its average volume of 640,316. The company has a market cap of $6.41 billion, a PE ratio of 34.91 and a beta of 0.79. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. The company has a 50-day moving average price of $51.52 and a 200-day moving average price of $44.66.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. During the same period in the previous year, the company earned $0.47 EPS. Sell-side analysts anticipate that Glacier Bancorp will post 1.7 EPS for the current fiscal year.

Institutional Trading of Glacier Bancorp

Several large investors have recently modified their holdings of GBCI. Blue Trust Inc. lifted its holdings in shares of Glacier Bancorp by 20,598.6% during the second quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock worth $600,000 after buying an additional 14,831 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Glacier Bancorp in the third quarter worth $543,000. &PARTNERS raised its stake in shares of Glacier Bancorp by 134.1% in the second quarter. &PARTNERS now owns 57,563 shares of the bank’s stock worth $2,148,000 after buying an additional 32,969 shares during the period. Natixis Advisors LLC grew its holdings in Glacier Bancorp by 30.9% during the 3rd quarter. Natixis Advisors LLC now owns 331,121 shares of the bank’s stock valued at $15,132,000 after buying an additional 78,107 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Glacier Bancorp by 2.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,414,154 shares of the bank’s stock valued at $52,776,000 after purchasing an additional 40,120 shares in the last quarter. 80.17% of the stock is 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.