Is Glacier Bancorp, Inc. overvalued or undervalued?

As of 1 August 2025, Glacier Bancorp, Inc. has moved from a fair to an expensive valuation grade. The company appears to be overvalued based on its current metrics, particularly with a P/E ratio of 22, a Price to Book Value of 1.46, and an EV to EBITDA of 28.74, all of which are significantly higher than many of its peers. For instance, Western Alliance Bancorp has a P/E of 11.90, while Wintrust Financial Corp. shows a P/E of 12.91, indicating that Glacier is trading at a premium compared to these competitors.
In terms of recent performance, Glacier Bancorp's stock has underperformed relative to the S&P 500 over the longer term, with a 3-year return of -1.78% compared to the S&P 500's 70.41%. This trend reinforces the notion that the stock may not justify its current valuation levels. Overall, the combination of high valuation ratios and relative underperformance suggests that Glacier Bancorp, Inc. is overvalued.