Keefe, Bruyette & Woods (KBW) revised up its price target on Glacier Bancorp (NYSE: GBCI) to $58.00 from $55.00 on Monday and maintained its existing rating on the regional bank. In its updated analysis, KBW identified Glacier as a "Top Idea for 2026," reflecting increased confidence after the company’s most recent quarterly results.
KBW noted that Glacier’s shares fell modestly on the most recent Friday, declining by 50 basis points relative to the KRX regional banking index. The firm attributed that relative weakness in part to prior strength in the run-up to results - Glacier shares had outperformed the KRX index by roughly 600 basis points since early December - and in part to the bank’s elevated expense guidance.
The research house also flagged Glacier’s long track record of shareholder distributions: InvestingPro data show the bank has paid dividends for 41 consecutive years. KBW appears to consider that history of steady payouts as a stabilizing factor underpinning its favorable view.
Following Glacier’s fourth-quarter 2025 results and management commentary, KBW said it has more confidence in estimates that sit above consensus and therefore lifted its 2026 earnings estimate by 1%. The firm emphasized what it described as an "epic NII expansion story" - a trajectory in net interest income that KBW expects will drive material earnings growth.
KBW projected that Glacier will deliver leading earnings-per-share growth of 58% over the next two years, versus 21% for the KRX regional banking index. Despite that forecasted outperformance, KBW observed that Glacier’s valuation remains tighter than historic norms, trading at about 13 times estimated 2027 earnings and 2.3 times tangible book value.
In company-reported results, Glacier Bancorp said its fourth-quarter 2025 earnings per share came in at $0.49, meeting analyst expectations. Revenue for the quarter was $306.51 million, a slight beat versus the $304.82 million analysts had forecast.
Separately, Raymond James adjusted its price target on Glacier Bancorp to $55.00 from $49.00 and kept an Outperform rating. Raymond James pointed to robust margin expansion and a continued earnings growth trajectory as reasons for the higher target. The firm expects Glacier’s net interest margin to rise above 4% by the end of 2026, up from 3.58% in the fourth quarter of 2025, and noted the potential for margins to reach the mid-4% range over time.
Taken together, the analyst actions and the fourth-quarter results frame a broadly positive analyst outlook for Glacier Bancorp, even as the stock has experienced short-term price movement and the company has updated expense guidance. The commentary from KBW and Raymond James centers on net interest income and margin improvement as the primary drivers of the firms’ bullish stances.