Glacier Bancorp price target lowered to $45 from $48 at DA Davidson

DA Davidson lowered the firm’s price target on Glacier Bancorp to $45 from $48 but keeps a Buy rating on the shares after its Q1 results. The firm’s adjustments to its model reflect a lower net interest income outlook, offset by reduced credit costs, the analyst tells investors in a research note. DA Davidson adds however that a near certainty in upward net interest margin direction, a pristine credit profile, and confirmation of several strategic variables secured paints an attractive picture for Glacier the rest of this year.