Glacier Bancorp (NYSE:GBCI) Issues Earnings Results

Glacier Bancorp (NYSE:GBCI) issued its quarterly earnings data on Thursday. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03, FiscalAI reports. Glacier Bancorp had a net margin of 16.63% and a return on equity of 6.68%. The firm had revenue of $306.76 million for the quarter.

Glacier Bancorp Trading Up 1.0%

Shares of NYSE GBCI traded up $0.50 during mid-day trading on Thursday, hitting $49.36. The company’s stock had a trading volume of 952,045 shares, compared to its average volume of 1,023,587. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 24.81 and a beta of 0.73. The company’s fifty day simple moving average is $46.51 and its 200-day simple moving average is $45.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.82. Glacier Bancorp has a one year low of $39.77 and a one year high of $53.99.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, April 7th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio (DPR) is 66.33%.

Institutional Trading of Glacier Bancorp

A number of hedge funds have recently modified their holdings of GBCI. AQR Capital Management LLC raised its position in shares of Glacier Bancorp by 30.9% in the 1st quarter. AQR Capital Management LLC now owns 31,176 shares of the company’s stock valued at $1,358,000 after acquiring an additional 7,359 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Glacier Bancorp by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company’s stock valued at $59,799,000 after acquiring an additional 73,756 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Glacier Bancorp by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company’s stock valued at $15,587,000 after acquiring an additional 26,157 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after acquiring an additional 490 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $2,011,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on GBCI. Stephens set a $58.00 price objective on shares of Glacier Bancorp in a report on Monday, January 26th. Wall Street Zen raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. Brean Capital lowered shares of Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Janney Montgomery Scott assumed coverage on shares of Glacier Bancorp in a research note on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.67.

Glacier Bancorp Company Profile

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.