Stephens Upgrades Glacier Bancorp (NASDAQ:GBCI) to Strong-Buy

Glacier Bancorp (NASDAQ:GBCI) was upgraded by equities research analysts at Stephens from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler decreased their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Raymond James restated 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.50.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $46.07 on Monday. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 27.58 and a beta of 0.77. 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 has a 12 month low of $34.35 and a 12 month high of $60.67. The stock’s 50 day moving average price is $49.68 and its 200 day moving average price is $49.91.

Hedge Funds Weigh In On Glacier Bancorp

A number of large investors have recently made changes to their positions in GBCI. Geode Capital Management LLC boosted its holdings in shares of Glacier Bancorp by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after purchasing an additional 41,160 shares during the period. Capital International Investors boosted its position in Glacier Bancorp by 5.8% during the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock valued at $105,089,000 after purchasing an additional 115,620 shares during the last quarter. Northern Trust Corp increased its position in Glacier Bancorp by 7.7% in the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock worth $88,587,000 after purchasing an additional 126,316 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Glacier Bancorp by 19.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after buying an additional 280,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Glacier Bancorp by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock valued at $74,402,000 after acquiring an additional 49,006 shares in the last quarter. Institutional investors and hedge funds 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.