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

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

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

Glacier Bancorp Price Performance

GBCI opened at $46.07 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $49.68 and its 200 day moving average price is $49.91. Glacier Bancorp has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 27.58 and a beta of 0.77.

Hedge Funds Weigh In On Glacier Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Glacier Bancorp by 65.6% in the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank’s stock worth $11,321,000 after acquiring an additional 98,158 shares during the period. Geode Capital Management LLC raised its holdings in 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 in the last quarter. LMR Partners LLP acquired a new stake in Glacier Bancorp in the third quarter worth approximately $543,000. BNP Paribas Financial Markets boosted its stake in Glacier Bancorp by 75.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank’s stock valued at $2,111,000 after purchasing an additional 19,814 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Glacier Bancorp by 79.2% during the 3rd quarter. Synovus Financial Corp now owns 32,484 shares of the bank’s stock valued at $1,485,000 after purchasing an additional 14,359 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.