Glacier Bancorp price target raised to $57 from $56 at Piper Sandler

Piper Sandler raised the firm’s price target on Glacier Bancorp (GBCI) to $57 from $56 and keeps a Neutral rating on the shares. The firm says the Bank of Idaho Holding deal does not come as a surprise to Piper strategically given its intent to fill-in its footprint and ability to use the relative strength of its currency to make the deal math work in what was a negotiated transaction despite the higher market premium and P/tangible book value multiple paid.