Glacier Bancorp (NYSE:GBCI) Announces Earnings Results

Glacier Bancorp (NYSE:GBCI) issued its earnings results on Thursday. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76, FiscalAI reports. Glacier Bancorp had a return on equity of 8.12% and a net margin of 19.72%.The company had revenue of $320.94 million for the quarter. During the same period last year, the business posted $0.57 EPS.

Glacier Bancorp Stock Performance

NYSE GBCI opened at $50.32 on Friday. Glacier Bancorp has a twelve month low of $39.90 and a twelve month high of $54.58. The stock has a market cap of $6.55 billion, a PE ratio of 20.62 and a beta of 0.72. The stock has a fifty day simple moving average of $49.70 and a 200-day simple moving average of $48.33. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 61.68%.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in GBCI. Root Financial Partners LLC grew its position in Glacier Bancorp by 122.5% during the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after purchasing an additional 359 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Glacier Bancorp in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its position in Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after buying an additional 490 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after buying an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Glacier Bancorp during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on GBCI shares. Piper Sandler boosted their target price on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. DA Davidson increased their target price on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Glacier Bancorp in a research note on Monday. Finally, Stephens increased their price objective on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and an average target price of $55.17.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.