Glacier Bancorp (NASDAQ:GBCI) Posts Earnings Results

Glacier Bancorp (NASDAQ:GBCI) released its quarterly earnings data on Friday. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04), Briefing.com reports. The business had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a return on equity of 6.61% and a net margin of 16.40%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS.

Glacier Bancorp Trading Up 5.2 %

GBCI stock traded up $1.84 during trading on Friday, reaching $36.94. 1,522,436 shares of the stock were exchanged, compared to its average volume of 546,445. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $37.80 and a 200-day moving average price of $36.65. Glacier Bancorp has a 1 year low of $26.77 and a 1 year high of $44.06. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 21.11 and a beta of 0.80.

Glacier Bancorp Increases Dividend

The company also recently announced 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. The ex-dividend date was Monday, April 8th. 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 yield of 3.57%. Glacier Bancorp’s payout ratio is 75.43%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Stephens reissued an “equal weight” rating and issued a $44.00 price target on shares of Glacier Bancorp in a research note on Friday. Truist Financial decreased their price target on shares of Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Raymond James raised their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One equities 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’s stock. According to data from MarketBeat, Glacier Bancorp presently has an average rating of “Hold” and a consensus price target of $40.40.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors have recently bought and sold shares of GBCI. Barclays PLC increased its position in shares of Glacier Bancorp by 1,498.3% during the third quarter. Barclays PLC now owns 943 shares of the bank’s stock valued at $27,000 after acquiring an additional 884 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Glacier Bancorp during the second quarter valued at about $37,000. State of Wyoming increased its position in shares of Glacier Bancorp by 57.7% during the second quarter. State of Wyoming now owns 1,568 shares of the bank’s stock valued at $49,000 after acquiring an additional 574 shares during the last quarter. Covestor Ltd increased its position in shares of Glacier Bancorp by 115.0% during the first quarter. Covestor Ltd now owns 1,045 shares of the bank’s stock valued at $53,000 after acquiring an additional 559 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of Glacier Bancorp during the fourth quarter valued at about $68,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

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.