Analysts Set Glacier Bancorp, Inc. (NASDAQ:GBCI) PT at $51.50

Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $51.50.

A number of analysts recently commented on the company. Stephens raised Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. 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 research report on Wednesday, January 15th. Piper Sandler reduced their target price on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th.

Glacier Bancorp Stock Down 1.3 %

Shares of GBCI stock traded down $0.59 on Friday, hitting $45.66. The stock had a trading volume of 1,038,744 shares, compared to its average volume of 581,793. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day moving average of $49.49 and a 200 day moving average of $49.98. Glacier Bancorp has a 12-month low of $34.35 and a 12-month high of $60.67. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 27.34 and a beta of 0.77.

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Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of GBCI. Norges Bank purchased a new position in shares of Glacier Bancorp during the 4th quarter worth $56,923,000. Madison Investment Advisors LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter worth about $47,770,000. Millennium Management LLC raised its stake in Glacier Bancorp by 4,600.1% during the 4th quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock valued at $47,010,000 after purchasing an additional 916,163 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank's stock worth $77,435,000 after purchasing an additional 280,255 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Glacier Bancorp by 76.0% during the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock valued at $28,192,000 after buying an additional 242,414 shares in the last quarter. Institutional investors 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.