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

Glacier Bancorp (NASDAQ:GBCIGet Free Report) issued its quarterly earnings results on Friday. 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. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.61%. The firm had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same quarter last year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $36.94 on Friday. The stock has a market cap of $4.19 billion, a PE ratio of 21.11 and a beta of 0.80. The business has a fifty day simple moving average of $37.80 and a 200-day simple moving average of $36.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. Glacier Bancorp has a 12 month low of $26.77 and a 12 month high of $44.06.

Glacier Bancorp Increases Dividend

The firm also recently announced 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 of this dividend was Monday, April 8th. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

Analysts Set New Price Targets

GBCI has been the topic of several research analyst reports. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Raymond James lifted their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Truist Financial lowered their price target 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 issued a $44.00 target price on shares of Glacier Bancorp in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $40.40.

Read Our Latest Research Report on GBCI

Institutional Trading of Glacier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of GBCI. Barclays PLC boosted its position in shares of Glacier Bancorp by 1,498.3% in the third quarter. Barclays PLC now owns 943 shares of the bank’s stock worth $27,000 after buying an additional 884 shares during the period. Point72 Asset Management L.P. acquired a new stake in Glacier Bancorp during the second quarter valued at $37,000. State of Wyoming boosted its position in 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 purchasing an additional 574 shares during the last quarter. Covestor Ltd boosted its position in 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 purchasing an additional 559 shares during the last quarter. Finally, KBC Group NV acquired a new stake in Glacier Bancorp during the fourth quarter valued at $68,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Glacier Bancorp (NASDAQ:GBCI)

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