Glacier Bancorp, Inc.

DB:GLC Stock Report

Market Cap: €6.0b

Glacier Bancorp Valuation

Is GLC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GLC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GLC (€51.5) is trading below our estimate of fair value (€63.26)

Significantly Below Fair Value: GLC is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GLC?

Key metric: As GLC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GLC. This is calculated by dividing GLC's market cap by their current earnings.
What is GLC's PE Ratio?
PE Ratio35.4x
EarningsUS$182.71m
Market CapUS$6.33b

Price to Earnings Ratio vs Peers

How does GLC's PE Ratio compare to its peers?

The above table shows the PE ratio for GLC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.5x
CBK Commerzbank
8.7x8.8%€18.5b
BPOP Popular
13.2x16.6%US$6.9b
FFIN First Financial Bankshares
28.4x7.5%US$5.8b
UBSI United Bankshares
15.8x8.4%US$5.6b
GLC Glacier Bancorp
35.4x30.9%€6.3b

Price-To-Earnings vs Peers: GLC is expensive based on its Price-To-Earnings Ratio (35.4x) compared to the peer average (16.5x).

Price to Earnings Ratio vs Industry

How does GLC's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GLC 35.4xIndustry Avg. 7.4xNo. of Companies44PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GLC is expensive based on its Price-To-Earnings Ratio (35.4x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is GLC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GLC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.4x
Fair PE Ratio15.5x

Price-To-Earnings vs Fair Ratio: GLC is expensive based on its Price-To-Earnings Ratio (35.4x) compared to the estimated Fair Price-To-Earnings Ratio (15.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GLC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€51.50
€49.71
-3.5%
7.7%€54.14€42.75n/a6
Nov ’25€47.60
€47.59
-0.02%
7.7%€52.60€41.53n/a7
Oct ’25€40.60
€41.30
+1.7%
6.2%€45.17€37.94n/a7
Sep ’25€42.00
€40.14
-4.4%
7.0%€44.56€34.56n/a7
Aug ’25€41.00
€40.96
-0.09%
6.4%€45.33€36.08n/a7
Jul ’25€34.20
€38.71
+13.2%
7.4%€43.92€35.51n/a7
Jun ’25€33.60
€38.76
+15.4%
7.7%€44.12€35.67n/a7
May ’25€34.20
€38.76
+13.3%
7.7%€44.12€35.67n/a7
Apr ’25€36.40
€40.57
+11.4%
10.8%€46.55€33.52n/a7
Mar ’25€34.20
€41.01
+19.9%
10.7%€46.61€33.56n/a7
Feb ’25€35.40
€39.57
+11.8%
15.0%€46.17€29.55n/a7
Jan ’25€38.00
€35.93
-5.4%
16.3%€45.40€29.06n/a7
Dec ’24€30.40
€30.86
+1.5%
7.5%€34.63€27.34n/a7
Nov ’24€28.20
€31.48
+11.6%
6.3%€33.76€28.13€47.607
Oct ’24€26.60
€32.09
+20.6%
8.5%€37.12€29.51€40.607
Sep ’24€27.40
€31.10
+13.5%
7.7%€35.52€28.23€42.007
Aug ’24€29.40
€29.54
+0.5%
6.8%€33.26€26.97€41.007
Jul ’24€28.60
€33.52
+17.2%
9.0%€38.64€30.36€34.207
Jun ’24€26.60
€35.28
+32.6%
11.2%€43.31€31.33€33.607
May ’24€29.60
€35.57
+20.2%
10.2%€42.56€30.79€34.207
Apr ’24€38.20
€45.45
+19.0%
6.2%€50.43€40.34€36.407
Mar ’24€44.20
€46.82
+5.9%
5.6%€51.65€42.26€34.207
Feb ’24€40.60
€45.36
+11.7%
6.1%€50.07€40.96€35.406
Jan ’24€45.60
€52.29
+14.7%
8.5%€58.41€46.16€38.006
Dec ’23€54.00
€56.86
+5.3%
10.4%€67.84€48.88€30.406
Nov ’23€57.50
€56.02
-2.6%
7.2%€61.20€49.16€28.206

Analyst Forecast: Target price is lower than the current share price.

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