Stephens lowered the firm’s price target on Glacier Bancorp to $40 from $44 and keeps an Equal Weight rating on the shares. While “pleased” to see net interest margin, or NIM, expansion in the quarter and “optimistic” around the continued expansion in NIM moving forward, the firm’s EPS estimate comes down 10% to $2.16 following the quarter, driven mostly by higher operating expenses and slightly lower net interest income than its prior forecast, the analyst tells investors.
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