Keefe, Bruyette & Woods Has Lowered Expectations for Glacier Bancorp (NASDAQ:GBCI) Stock Price

Glacier Bancorp (NASDAQ:GBCI) had its target price lowered by equities researchers at Keefe, Bruyette & Woods from $55.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 23.46% from the company’s current price.

Several other research analysts have also commented on the company. Piper Sandler reduced 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. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock traded down $0.31 on Monday, hitting $40.50. 96,604 shares of the company were exchanged, compared to its average volume of 613,511. Glacier Bancorp has a 1-year low of $34.48 and a 1-year high of $60.67. 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 stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 24.25 and a beta of 0.80. The company has a 50-day moving average price of $43.58 and a 200 day moving average price of $49.16.

Hedge Funds Weigh In On Glacier Bancorp

Several large investors have recently made changes to their positions in GBCI. Norges Bank purchased a new stake in Glacier Bancorp in the fourth quarter valued at approximately $56,923,000. Madison Investment Advisors LLC acquired a new stake in shares of Glacier Bancorp in the fourth quarter valued at $47,770,000. Millennium Management LLC raised its holdings in shares of Glacier Bancorp by 4,600.1% in the 4th quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock valued at $47,010,000 after buying an additional 916,163 shares during the period. JPMorgan Chase & Co. lifted its stake in Glacier Bancorp by 76.0% during the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock worth $28,192,000 after acquiring an additional 242,414 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Glacier Bancorp during the 4th quarter valued at about $9,544,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.