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Downgrade Alert for Glacier Bancorp (GBCI)

By David Diaz

Glacier Bancorp (NASDAQ:GBCI) was downgraded from Outperform to Market Perform at Fig Partners today. The stock closed yesterday at $26.86 on volume of 429,000 shares, above average daily volume of 329,000.

Glacier Bancorp has overhead space with shares priced $26.86, or 9.2% below the average consensus analyst price target of $29.57. The stock should find initial support at its 200-day moving average (MA) of $26.20 and further support at its 50-day MA of $25.44.

Glacier Bancorp, Inc. is a multi-bank holding company. The Banks attract deposits from the general public and use those funds to originate a variety of commercial and consumer loans.

In the past 52 weeks, shares of Glacier Bancorp have traded between a low of $21.90 and a high of $30.29 and closed yesterday at $26.86, which is 23% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Glacier Bancorp and will alert subscribers who have GBCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades glacier bancorp

Ticker(s): GBCI