Glacier Bancorp price target lowered to $40 from $49 at Truist

Truist lowered the firm’s price target on Glacier Bancorp to $40 from $49 but keeps a Buy rating on the shares. The analyst states that the firm’s estimate revisions primarily reflect lower net interest income, offset partially by lower expenses. Truist adds however that while Glacier’s net interest margin and net interest income results were below its expectations in the first quarter, the bank’s balance sheet is well positioned to deliver sequential net interest income growth from a trough in Q2.