DA Davidson Upgrades Glacier Bancorp to “Buy” (GBCI)
Glacier Bancorp (NASDAQ:GBCI) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $33.00 price objective on the stock, up from their previous price objective of $31.00. DA Davidson’s price objective would indicate a potential upside of 25.62% from the stock’s previous close.
Glacier Bancorp (NASDAQ:GBCI) traded up 4.00% during mid-day trading on Wednesday, hitting $27.32. The stock had a trading volume of 316,382 shares. Glacier Bancorp has a 1-year low of $16.81 and a 1-year high of $30.88. The stock’s 50-day moving average is $27.51 and its 200-day moving average is $26.89. The company has a market cap of $2.032 billion and a price-to-earnings ratio of 20.10.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings data on Thursday, January 23rd. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.03. During the same quarter in the prior year, the company posted $0.29 earnings per share. Analysts expect that Glacier Bancorp will post $1.54 EPS for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Glacier Bancorp from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 7th. They now have a $33.90 price target on the stock. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.18.
Glacier Bancorp, Inc is a regional multi-bank holding company. As of December 31, 2012, the Company provided commercial banking services from 108 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington.
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