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

Glacier Bancorp (NASDAQ:GBCI) issued its quarterly earnings results on Thursday. The bank reported $0.29 EPS 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 prior year, the firm earned $0.55 EPS. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $35.10 on Friday. The company has a fifty day moving average price of $37.79 and a 200 day moving average price of $36.53. The firm has a market cap of $3.98 billion, a PE ratio of 17.46 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. Glacier Bancorp has a 1-year low of $26.77 and a 1-year high of $44.06.

Glacier Bancorp Increases Dividend

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

Institutional Trading of Glacier Bancorp

A number of institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Glacier Bancorp by 35,877.6% during the fourth quarter. Barclays PLC now owns 339,269 shares of the bank’s stock worth $14,019,000 after buying an additional 338,326 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $86,000. Vanguard Group Inc. grew its stake in shares of Glacier Bancorp by 0.7% in 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 in the last quarter. Profund Advisors LLC increased its holdings in Glacier Bancorp by 10.5% during the fourth quarter. Profund Advisors LLC now owns 9,110 shares of the bank’s stock worth $376,000 after buying an additional 867 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Glacier Bancorp by 9.0% during the fourth quarter. Royal Bank of Canada now owns 386,186 shares of the bank’s stock worth $15,958,000 after acquiring an additional 31,800 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Raymond James increased their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Truist Financial reduced their target price 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 raised Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.80.

About Glacier Bancorp

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.