Keefe, Bruyette & Woods Has Lowered Expectations for Glacier Bancorp (NASDAQ:GBCI) Stock Price

Glacier Bancorp (NASDAQ:GBCI) had its target price reduced by equities researchers at Keefe, Bruyette & Woods from $55.00 to $50.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 20.85% from the company’s previous close.

GBCI has been the subject of a number of other reports. Piper Sandler reduced their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Raymond James restated an “outperform” rating and issued a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. Finally, Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp has a consensus rating of “Hold” and a consensus target price of $50.50.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $41.37 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $4.70 billion, a PE ratio of 24.77 and a beta of 0.80. The firm’s 50 day simple moving average is $43.24 and its 200-day simple moving average is $49.06. Glacier Bancorp has a one year low of $34.48 and a one 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 the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period in the prior year, the company earned $0.29 earnings per share. As a group, equities analysts predict that Glacier Bancorp will post 2.45 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GBCI. Capital International Investors increased its holdings in shares of Glacier Bancorp by 5.8% in the 4th quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock valued at $105,089,000 after purchasing an additional 115,620 shares in the last quarter. Northern Trust Corp lifted its position in shares of Glacier Bancorp by 7.7% during the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock valued at $88,587,000 after acquiring an additional 126,316 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Glacier Bancorp by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock worth $59,988,000 after acquiring an additional 52,566 shares in the last quarter. Norges Bank purchased a new stake in shares of Glacier Bancorp during the 4th quarter worth approximately $56,923,000. Finally, Snyder Capital Management L P grew its holdings in shares of Glacier Bancorp by 3.4% in the 4th quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank’s stock worth $56,446,000 after acquiring an additional 37,472 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

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.