Glacier Bancorp price target lowered to $47 from $51 at DA Davidson

DA Davidson analyst Jeff Rulis lowered the firm’s price target on Glacier Bancorp to $47 from $51 after its Q1 earnings miss but keeps a Buy rating on the shares. Excess liquidity is now expected to hang on longer than anticipated despite indications of firming core deposit balances, but Glacier Bancorp’s loan growth looks to stay on a steady clip in the 5%-7% range, expense expectations are improving, CET1 ratio has risen to 12.5%, and credit quality is at a "cyclical best", the analyst tells investors in a research note.