Glacier Bancorp (NASDAQ:GBCI) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

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

Glacier Bancorp Trading Up 5.2 %

GBCI stock traded up $1.84 on Friday, hitting $36.94. 1,522,436 shares of the company were exchanged, compared to its average volume of 546,445. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. The business’s fifty day moving average is $37.80 and its two-hundred day moving average is $36.65. The stock 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 business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a dividend of $0.33 per share. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.57%. Glacier Bancorp’s dividend payout ratio is 75.43%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Glacier Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in shares of Glacier Bancorp in the second quarter worth $215,000. Pathstone Holdings LLC purchased a new position in shares of Glacier Bancorp in the fourth quarter valued at $208,000. Tower Research Capital LLC TRC boosted its stake in Glacier Bancorp by 126.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,340 shares of the bank’s stock valued at $198,000 after acquiring an additional 3,541 shares during the last quarter. Point72 Middle East FZE bought a new position in Glacier Bancorp during the 4th quarter valued at $190,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Glacier Bancorp by 27.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,140 shares of the bank’s stock valued at $155,000 after acquiring an additional 670 shares during the last quarter. Institutional investors and hedge funds 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.