Glacier Bancorp (NASDAQ:GBCI) Announces Earnings Results

Glacier Bancorp (NASDAQ:GBCI) released 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 quarter last year, the business posted $0.54 EPS.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock traded up $0.30 during midday trading on Thursday, hitting $49.97. 1,382,349 shares of the company were exchanged, compared to its average volume of 915,139. The firm has a 50 day simple moving average of $44.60 and a 200-day simple moving average of $45.54. Glacier Bancorp has a 52 week low of $36.76 and a 52 week high of $51.98. The firm has a market cap of $6.49 billion, a P/E ratio of 29.92 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp Dividend Announcement

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

Insider Activity

In other Glacier Bancorp news, insider Ryan Thomas Screnar purchased 979 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of $41.88 per share, with a total value of $41,000.52. Following the acquisition, the insider directly 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Randall M. Chesler acquired 2,437 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was acquired at an average price of $40.91 per share, with a total value of $99,697.67. Following the transaction, the chief executive officer owned 7,422 shares in the company, valued at approximately $303,634.02. The trade was a 48.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 8,852 shares of company stock worth $364,484 in the last quarter. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glacier Bancorp

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock worth $31,000 after buying an additional 490 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Glacier Bancorp during the third quarter worth about $40,000. CIBC Private Wealth Group LLC raised its position in shares of Glacier Bancorp by 1,176.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,264 shares of the bank’s stock worth $62,000 after purchasing an additional 1,165 shares during the period. Danske Bank A S bought a new position in shares of Glacier Bancorp during the 3rd quarter valued at about $92,000. Finally, CreativeOne Wealth LLC acquired a new position in shares of Glacier Bancorp in the 3rd quarter valued at approximately $215,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

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

Glacier Bancorp Company Profile

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.