DA Davidson Weighs in on Glacier Bancorp, Inc.’s Q2 2024 Earnings (NASDAQ:GBCI)

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Glacier Bancorp in a report released on Monday, April 22nd. DA Davidson analyst J. Rulis forecasts that the bank will post earnings of $0.41 per share for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 target price on the stock. The consensus estimate for Glacier Bancorp’s current full-year earnings is $1.82 per share. DA Davidson also issued estimates for Glacier Bancorp’s FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $196.47 million during the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. Glacier Bancorp’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS.

A number of other brokerages have also weighed in on GBCI. Stephens decreased their target price on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Truist Financial decreased their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday. Finally, Raymond James boosted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.40.

Glacier Bancorp Price Performance

GBCI opened at $38.38 on Tuesday. Glacier Bancorp has a 1 year low of $26.77 and a 1 year high of $44.06. The stock has a 50-day moving average price of $37.86 and a 200-day moving average price of $36.82. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $4.35 billion, a PE ratio of 21.93 and a beta of 0.80.

Institutional Investors Weigh In On Glacier Bancorp

Large investors have recently made changes to their positions in the company. Tudor Investment Corp Et Al grew its stake in shares of Glacier Bancorp by 536.2% during the 3rd quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock valued at $3,193,000 after acquiring an additional 94,422 shares during the period. Aigen Investment Management LP bought a new position in shares of Glacier Bancorp during the 3rd quarter valued at approximately $956,000. Massachusetts Financial Services Co. MA grew its stake in shares of Glacier Bancorp by 30.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock valued at $29,197,000 after acquiring an additional 239,168 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Glacier Bancorp during the 3rd quarter valued at approximately $2,992,000. Finally, Boston Partners grew its stake in shares of Glacier Bancorp by 37.7% during the 3rd quarter. Boston Partners now owns 172,119 shares of the bank’s stock valued at $4,905,000 after acquiring an additional 47,142 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.33 per share. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s payout ratio is currently 75.43%.

Glacier Bancorp Company Profile

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.