Glacier Bancorp (NASDAQ:GBCI) Price Target Lowered to $40.00 at Truist Financial

Glacier Bancorp (NASDAQ:GBCI) had its price objective decreased by research analysts at Truist Financial from $42.00 to $40.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 4.22% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Raymond James lifted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Stephens reiterated an “equal weight” rating and set a $44.00 price target on shares of Glacier Bancorp in a report on Friday, April 19th. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.40.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $38.38 on Monday. The firm has a 50-day simple moving average of $37.86 and a 200-day simple moving average of $36.82. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 21.93 and a beta of 0.80. Glacier Bancorp has a 52 week low of $26.77 and a 52 week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates 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 revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS. On average, equities analysts predict that Glacier Bancorp will post 1.82 earnings per share for the current fiscal year.

Institutional Trading of Glacier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of GBCI. Louisiana State Employees Retirement System increased its position in shares of Glacier Bancorp by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the bank’s stock valued at $1,285,000 after acquiring an additional 800 shares during the last quarter. Berry Wealth Group LP purchased a new position in shares of Glacier Bancorp during the 1st quarter worth approximately $261,000. Ashton Thomas Private Wealth LLC increased its holdings in Glacier Bancorp by 0.6% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 254,299 shares of the bank’s stock valued at $10,243,000 after purchasing an additional 1,610 shares during the last quarter. State of Michigan Retirement System increased its holdings in Glacier Bancorp by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock valued at $1,097,000 after purchasing an additional 600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp during the first quarter worth $25,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

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.