Piper Sandler Issues Pessimistic Forecast for Glacier Bancorp (NASDAQ:GBCI) Stock Price

Glacier Bancorp (NASDAQ:GBCI) had its target price cut by analysts at Piper Sandler from $57.00 to $54.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target indicates a potential upside of 8.39% from the company’s current price.

Several other analysts also recently commented on GBCI. Keefe, Bruyette & Woods raised their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial raised their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James reissued an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and an average target price of $51.50.

Glacier Bancorp Stock Down 0.7 %

Shares of NASDAQ:GBCI opened at $49.82 on Monday. The company has a 50 day moving average price of $52.98 and a two-hundred day moving average price of $48.76. The company has a market capitalization of $5.65 billion, a PE ratio of 30.75 and a beta of 0.81. Glacier Bancorp has a 52 week low of $34.35 and a 52 week high of $60.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds have recently added to or reduced their stakes in GBCI. Barclays PLC lifted its stake in shares of Glacier Bancorp by 65.6% during the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank’s stock worth $11,321,000 after buying an additional 98,158 shares during the last quarter. Geode Capital Management LLC raised its holdings in Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after acquiring an additional 41,160 shares during the period. LMR Partners LLP bought a new stake in shares of Glacier Bancorp during the third quarter worth approximately $543,000. BNP Paribas Financial Markets boosted its holdings in shares of Glacier Bancorp by 75.1% during the third quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank’s stock worth $2,111,000 after acquiring an additional 19,814 shares during the period. Finally, Synovus Financial Corp increased its stake in shares of Glacier Bancorp by 79.2% during the third quarter. Synovus Financial Corp now owns 32,484 shares of the bank’s stock worth $1,485,000 after purchasing an additional 14,359 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.