Glacier Bancorp (NASDAQ:GBCI – Get Free Report)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $50.00 price target on the bank’s stock. DA Davidson’s price target suggests a potential upside of 14.47% from the company’s current price.
Several other brokerages also recently commented on GBCI. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Raymond James Financial set a $45.00 target price on shares of Glacier Bancorp in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target on shares of Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Finally, Janney Montgomery Scott raised Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.50.
View Our Latest Report on Glacier Bancorp
Glacier Bancorp Price Performance
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last posted its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period last year, the firm posted $0.29 EPS. On average, sell-side analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in GBCI. GAMMA Investing LLC raised its holdings in shares of Glacier Bancorp by 4,580.7% in the 1st quarter. GAMMA Investing LLC now owns 142,388 shares of the bank’s stock worth $6,296,000 after buying an additional 139,346 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Glacier Bancorp in the fourth quarter valued at about $716,000. Raymond James Financial Inc. bought a new stake in Glacier Bancorp during the fourth quarter worth about $9,544,000. JPMorgan Chase & Co. grew its stake in Glacier Bancorp by 76.0% during the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock worth $28,192,000 after buying an additional 242,414 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Glacier Bancorp during the fourth quarter worth approximately $281,000. Institutional investors and hedge funds own 80.17% of the company’s stock.
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.
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