Glacier Bancorp (NASDAQ:GBCI) Releases Earnings Results, Misses Estimates By $0.04 EPS

Glacier Bancorp (NASDAQ:GBCI) posted its quarterly earnings results on Friday. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04), Briefing.com reports. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period last year, the firm posted $0.55 EPS. Glacier Bancorp’s quarterly revenue was down 8.2% on a year-over-year basis.

Glacier Bancorp Trading Up 5.2 %

NASDAQ GBCI opened at $36.94 on Monday. The business’s 50-day moving average price is $37.80 and its two-hundred day moving average price is $36.70. Glacier Bancorp has a 12 month low of $26.77 and a 12 month high of $44.06. The firm has a market capitalization of $4.19 billion, a PE ratio of 21.11 and a beta of 0.80. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Monday, April 8th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is 75.43%.

Analysts Set New Price Targets

GBCI has been the topic of a number of research reports. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Raymond James boosted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Truist Financial reduced their price objective on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Finally, Stephens restated an “equal weight” rating and set a $44.00 price objective on shares of Glacier Bancorp in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.40.

Institutional Investors Weigh In On Glacier Bancorp

Institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its position in shares of Glacier Bancorp by 1,498.3% in the 3rd quarter. Barclays PLC now owns 943 shares of the bank’s stock valued at $27,000 after buying an additional 884 shares during the last quarter. Covestor Ltd boosted its position in shares of Glacier Bancorp by 115.0% during the 1st quarter. Covestor Ltd now owns 1,045 shares of the bank’s stock valued at $53,000 after purchasing an additional 559 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Glacier Bancorp during the 2nd quarter valued at about $37,000. State of Wyoming boosted its position in shares of Glacier Bancorp by 57.7% during the 2nd quarter. State of Wyoming now owns 1,568 shares of the bank’s stock valued at $49,000 after purchasing an additional 574 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $68,000. Institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.