DA Davidson Lowers Glacier Bancorp (NASDAQ:GBCI) Price Target to $45.00

Glacier Bancorp (NASDAQ:GBCI) had its price objective decreased by equities researchers at DA Davidson from $48.00 to $45.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. DA Davidson’s target price points to a potential upside of 17.25% from the stock’s current price. DA Davidson also issued estimates for Glacier Bancorp’s Q2 2024 earnings at $0.41 EPS, FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

Several other analysts have also recently commented on GBCI. Raymond James raised their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Stephens reissued an “equal weight” rating and issued a $44.00 price target on shares of Glacier Bancorp in a report on Friday, April 19th. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Finally, Truist Financial reduced their price target on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Trading Up 1.8 %

Shares of GBCI stock opened at $38.38 on Monday. The business’s 50 day moving average is $37.86 and its two-hundred day moving average is $36.82. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The company has a market capitalization of $4.35 billion, a P/E ratio of 21.93 and a beta of 0.80. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The business had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. Equities analysts forecast that Glacier Bancorp will post 1.82 EPS for the current year.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of GBCI. Allworth Financial LP raised its holdings in Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC purchased a new position in Glacier Bancorp during the fourth quarter worth $25,000. Allspring Global Investments Holdings LLC purchased a new position in Glacier Bancorp during the first quarter worth $25,000. FNY Investment Advisers LLC purchased a new position in Glacier Bancorp during the fourth quarter worth $28,000. Finally, Selway Asset Management purchased a new position in Glacier Bancorp during the third quarter worth $47,000. 80.17% of the stock is owned by institutional investors and hedge funds.

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.