GBCI - Glacier Bancorp: Time For A Downgrade

2024-05-18 10:37:05 ET

Summary

• Glacier Bancorp's stock did not decline in price but failed to meet expectations, underperforming the broader market since I last rated it a 'buy'.
• Weaknesses in net interest income, non-interest income, and net profits have been observed in the company's recent financial results.
• Despite some positive growth in loans and deposits, the stock is not priced attractively compared to its peers, leading to a downgrade to a 'hold' rating.

When it comes to investing, it's imperative to keep in mind that not everything works out the way we would like it to. The best thing to do is to embrace that and move on. As an example, one company that I was bullish about in June of last year was Glacier Bancorp ( GBCI ). The bank, which has a market capitalization today of $4.20 billion, is one of the larger players in the banking sector that I had been looking at. I was impressed with the operations of the institution and I felt as though shares offered upside potential. At the end of the day, I ended up rating it a ‘buy’ to reflect my view that the stock should outperform the broader market moving forward....

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