Glacier Bancorp (NASDAQ:GBCI) Issues Quarterly Earnings Results

Glacier Bancorp (NASDAQ:GBCIGet Free Report) released its quarterly earnings data on Thursday. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04), Briefing.com reports. The company 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%. Glacier Bancorp’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share.

Glacier Bancorp Trading Up 5.2 %

NASDAQ GBCI opened at $36.94 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.19 billion, a PE ratio of 21.11 and a beta of 0.80. The company has a 50 day moving average price of $37.80 and a 200 day moving average price of $36.65. Glacier Bancorp has a 52 week low of $26.77 and a 52 week high of $44.06.

Glacier Bancorp Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Barclays PLC raised its stake in shares of Glacier Bancorp by 1,498.3% during the 3rd quarter. Barclays PLC now owns 943 shares of the bank’s stock worth $27,000 after acquiring an additional 884 shares in the last quarter. Covestor Ltd increased its stake in 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. acquired a new position in Glacier Bancorp during the 2nd quarter valued at approximately $37,000. State of Wyoming increased its stake in 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 acquired a new position in Glacier Bancorp during the 4th quarter valued at approximately $68,000. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GBCI. Truist Financial lowered their price objective on shares of Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, April 1st. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Raymond James upped their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $44.00 price target 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.40.

View Our Latest Stock Analysis on GBCI

Glacier Bancorp Company Profile

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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.

See Also

Earnings History for Glacier Bancorp (NASDAQ:GBCI)

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