Glacier Bancorp (NASDAQ:GBCI) Coverage Initiated at Janney Montgomery Scott

Stock analysts at Janney Montgomery Scott initiated coverage on shares of Glacier Bancorp (NASDAQ:GBCI) in a report released on Tuesday. The firm set a “neutral” rating and a $55.00 price target on the bank’s stock. Janney Montgomery Scott’s target price points to a potential upside of 5.53% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. Raymond James Financial lowered their target price on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Stephens set a $58.00 target price on shares of Glacier Bancorp in a research report on Monday, January 26th. DA Davidson boosted their price target on Glacier Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Piper Sandler upgraded Glacier Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $50.00 to $58.00 in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.50.

Glacier Bancorp Trading Down 2.1%

Shares of NASDAQ:GBCI traded down $1.09 during mid-day trading on Tuesday, reaching $52.12. 152,264 shares of the company were exchanged, compared to its average volume of 1,107,556. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 31.21 and a beta of 0.76. The firm’s 50-day simple moving average is $46.76 and its 200 day simple moving average is $45.97. Glacier Bancorp has a 1 year low of $36.76 and a 1 year high of $53.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results 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 period in the previous year, the company posted $0.54 EPS. Equities research analysts forecast that Glacier Bancorp will post 2.45 EPS for the current year.

Hedge Funds Weigh In On Glacier Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GBCI. Global Retirement Partners LLC grew its stake in shares of Glacier Bancorp by 41.2% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the bank’s stock valued at $34,000 after buying an additional 223 shares during the period. Janney Montgomery Scott LLC raised 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 purchasing an additional 240 shares during the period. AlphaQuest LLC raised its holdings in shares of Glacier Bancorp by 9.5% in 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 in the last quarter. Farther Finance Advisors LLC lifted its stake in Glacier Bancorp by 20.4% in the third quarter. Farther Finance Advisors LLC now owns 1,609 shares of the bank’s stock worth $78,000 after purchasing an additional 273 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Glacier Bancorp by 9.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,706 shares of the bank’s stock valued at $163,000 after buying an additional 306 shares during the period. Institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

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.