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

Glacier Bancorp (NASDAQ:GBCI) released its quarterly earnings results 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 net margin of 19.63% and a return on equity of 7.59%. The company had revenue of $196.47 million for the quarter, compared to analysts’ expectations 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

GBCI stock opened at $35.10 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 business’s fifty day simple moving average is $37.79 and its two-hundred day simple moving average is $36.53. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 17.46 and a beta of 0.80.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a $0.33 dividend. 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 dividend on an annualized basis and a yield of 3.76%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 65.67%.

Institutional Trading of Glacier Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Glacier Bancorp by 2.9% in the first quarter. BlackRock Inc. now owns 13,765,767 shares of the bank’s stock worth $578,300,000 after purchasing an additional 388,578 shares during the period. Vanguard Group Inc. increased its stake in shares of Glacier Bancorp by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock valued at $510,312,000 after buying an additional 80,251 shares during the period. State Street Corp increased its stake in shares of Glacier Bancorp by 12.1% during the second quarter. State Street Corp now owns 5,281,795 shares of the bank’s stock valued at $164,634,000 after buying an additional 568,105 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Glacier Bancorp by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,323,749 shares of the bank’s stock valued at $97,622,000 after buying an additional 100,095 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Glacier Bancorp by 3.0% during the first quarter. Geode Capital Management LLC now owns 2,231,239 shares of the bank’s stock valued at $93,734,000 after buying an additional 65,836 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GBCI shares. Raymond James increased their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Truist Financial decreased their price target on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, StockNews.com upgraded Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.