Glacier Bancorp (NASDAQ:GBCI) Announces Earnings Results, Beats Estimates By $0.03 EPS

by · The Markets Daily

Glacier Bancorp (NASDAQ:GBCI – Get Free Report) issued its earnings results on Thursday. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03, Briefing.com reports. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. During the same period in the previous year, the company posted $0.47 EPS.

Glacier Bancorp Price Performance

Shares of GBCI traded up $1.85 during trading hours on Friday, hitting $49.58. 1,177,819 shares of the company were exchanged, compared to its average volume of 641,325. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 28.33 and a beta of 0.80. The firm’s fifty day moving average is $45.54 and its 200 day moving average is $41.02. Glacier Bancorp has a fifty-two week low of $29.35 and a fifty-two week high of $50.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.66%. Glacier Bancorp’s payout ratio is 75.43%.

Insider Buying and Selling

In related news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total value of $250,326.45. Following the transaction, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GBCI. Piper Sandler restated a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. Raymond James boosted their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial upped their price objective on Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.20.

Check Out Our Latest Stock Analysis on Glacier Bancorp

About Glacier Bancorp

(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.

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