Glacier Bancorp (NASDAQ:GBCI) Announces Quarterly Earnings Results

Glacier Bancorp (NASDAQ:GBCI) released its quarterly earnings data on Thursday. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04), Briefing.com reports. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The business had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same quarter in the previous year, the company posted $0.55 EPS. The business’s quarterly revenue was down 8.2% on a year-over-year basis.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $35.10 on Friday. The firm has a 50-day moving average of $37.79 and a 200-day moving average of $36.53. The company has a market cap of $3.98 billion, a P/E ratio of 17.46 and a beta of 0.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a one year low of $26.77 and a one year high of $44.06.

Glacier Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a $0.33 dividend. The ex-dividend date was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.76%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is currently 65.67%.

Institutional Trading of Glacier Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors grew its position in Glacier Bancorp by 3.3% during the fourth quarter. Captrust Financial Advisors now owns 8,427 shares of the bank’s stock valued at $416,000 after buying an additional 269 shares during the period. US Bancorp DE grew its position in Glacier Bancorp by 2.9% during the first quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock valued at $559,000 after buying an additional 308 shares during the period. Mariner LLC grew its position in Glacier Bancorp by 2.9% during the first quarter. Mariner LLC now owns 13,763 shares of the bank’s stock valued at $692,000 after buying an additional 382 shares during the period. Synovus Financial Corp grew its position in Glacier Bancorp by 2.2% during the first quarter. Synovus Financial Corp now owns 18,137 shares of the bank’s stock valued at $916,000 after buying an additional 390 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in Glacier Bancorp by 6.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,786 shares of the bank’s stock valued at $385,000 after buying an additional 454 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

GBCI has been the topic of several research reports. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Raymond James upped 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. Finally, Truist Financial lowered their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.80.

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.