Glacier Bancorp (NASDAQ:GBCI) Releases Earnings Results, Misses Expectations By $0.13 EPS

Glacier Bancorp (NASDAQ:GBCI) issued its quarterly earnings results on Thursday. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13), Briefing.com reports. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the prior year, the company posted $0.54 EPS.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $49.97 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $6.49 billion, a PE ratio of 29.92 and a beta of 0.75. The company’s fifty day moving average is $44.60 and its 200 day moving average is $45.54. Glacier Bancorp has a 52 week low of $36.76 and a 52 week high of $51.98.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, December 9th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 64.71%.

Insider Buying and Selling at Glacier Bancorp

In related news, CEO Randall M. Chesler acquired 2,437 shares of Glacier Bancorp stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average cost of $40.91 per share, with a total value of $99,697.67. Following the completion of the purchase, the chief executive officer owned 7,422 shares of the company’s stock, valued at $303,634.02. This represents a 48.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Thomas Screnar acquired 979 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $41.88 per share, for a total transaction of $41,000.52. Following the acquisition, the insider owned 10,842 shares of the company’s stock, valued at approximately $454,062.96. This trade represents a 9.93% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 8,852 shares of company stock valued at $364,484. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

Large investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its stake in shares of Glacier Bancorp by 1.0% during the third quarter. Northern Trust Corp now owns 1,657,366 shares of the bank’s stock valued at $80,664,000 after purchasing an additional 16,646 shares during the period. Freestone Grove Partners LP raised its holdings in Glacier Bancorp by 24.8% during the 3rd quarter. Freestone Grove Partners LP now owns 1,385,589 shares of the bank’s stock valued at $67,437,000 after buying an additional 275,209 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Glacier Bancorp by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock valued at $59,799,000 after buying an additional 73,756 shares during the period. Bank of America Corp DE grew its holdings in Glacier Bancorp by 113.0% in the 3rd quarter. Bank of America Corp DE now owns 872,117 shares of the bank’s stock worth $42,446,000 after acquiring an additional 462,711 shares during the last quarter. Finally, Port Capital LLC grew its holdings in Glacier Bancorp by 0.9% in the 3rd quarter. Port Capital LLC now owns 699,148 shares of the bank’s stock worth $34,028,000 after acquiring an additional 6,200 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GBCI shares. DA Davidson reissued a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a research note on Wednesday, November 12th. Piper Sandler upgraded shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $50.00 to $58.00 in a research report on Thursday, December 18th. Keefe, Bruyette & Woods upgraded Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Monday, December 15th. Finally, Raymond James Financial dropped their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $53.60.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.