Glacier Bancorp (NASDAQ:GBCI) Now Covered by Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Glacier Bancorp (NASDAQ:GBCI) in a research report report published on Tuesday morning. The firm issued a neutral rating and a $55.00 price target on the bank’s stock.

Several other brokerages also recently issued reports on GBCI. Stephens set a $58.00 price objective on Glacier Bancorp in a research note on Monday, January 26th. Piper Sandler upgraded Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $50.00 to $58.00 in a report on Thursday, December 18th. DA Davidson raised their price target on shares of Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Raymond James Financial dropped their price objective on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Glacier Bancorp Stock Down 2.7%

Shares of NASDAQ:GBCI opened at $51.79 on Tuesday. 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 company has a market cap of $6.73 billion, a PE ratio of 31.01 and a beta of 0.76. Glacier Bancorp has a 52 week low of $36.76 and a 52 week high of $53.99. The firm has a 50 day simple moving average of $46.94 and a 200 day simple moving average of $46.02.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, research analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GBCI. Global Retirement Partners LLC increased its position in Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the bank’s stock worth $34,000 after buying an additional 223 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Glacier Bancorp by 1.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank’s stock worth $544,000 after acquiring an additional 240 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Glacier Bancorp by 9.5% during the 2nd quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock valued at $129,000 after acquiring an additional 260 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Glacier Bancorp by 20.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,609 shares of the bank’s stock valued at $78,000 after acquiring an additional 273 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Glacier Bancorp by 9.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,706 shares of the bank’s stock valued at $163,000 after acquiring an additional 306 shares in the last quarter. 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, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.