Glacier Bancorp (NASDAQ:GBCI) Upgraded by Stephens to “Strong-Buy” Rating

Stephens upgraded shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Raymond James reiterated an “outperform” rating and set a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Piper Sandler reduced their price target on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and a consensus target price of $51.50.

Glacier Bancorp Price Performance

NASDAQ:GBCI opened at $46.07 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $49.68 and its 200 day simple moving average is $49.91. The company has a market cap of $5.22 billion, a P/E ratio of 27.58 and a beta of 0.77. Glacier Bancorp has a 52-week low of $34.35 and a 52-week high of $60.67.

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in shares of Glacier Bancorp by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 13,216 shares of the bank’s stock valued at $603,000 after buying an additional 890 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Glacier Bancorp by 20.7% in the third quarter. QRG Capital Management Inc. now owns 7,668 shares of the bank’s stock valued at $350,000 after buying an additional 1,316 shares during the period. Atria Investments Inc boosted its stake in shares of Glacier Bancorp by 17.8% in the third quarter. Atria Investments Inc now owns 14,643 shares of the bank’s stock valued at $669,000 after buying an additional 2,214 shares during the period. Stockman Wealth Management Inc. boosted its stake in shares of Glacier Bancorp by 61.6% in the third quarter. Stockman Wealth Management Inc. now owns 9,742 shares of the bank’s stock valued at $445,000 after buying an additional 3,714 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Glacier Bancorp by 44.8% in the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after buying an additional 927 shares during the period. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Company Profile

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.