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

Glacier Bancorp (NASDAQ:GBCI) announced its quarterly earnings data on Thursday. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03, Briefing.com reports. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The business had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same quarter in the prior year, the firm earned $0.47 EPS.

Glacier Bancorp Price Performance

GBCI traded up $1.87 on Friday, reaching $49.60. The company had a trading volume of 1,177,819 shares, compared to its average volume of 641,325. Glacier Bancorp has a one year low of $29.35 and a one year high of $50.10. The company has a market capitalization of $5.62 billion, a P/E ratio of 28.33 and a beta of 0.80. The company has a fifty day moving average of $45.54 and a 200-day moving average of $41.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82.

Glacier Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Glacier Bancorp

In other news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now directly owns 9,402 shares in the company, valued at approximately $418,859.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.44% of the company’s stock.

Glacier Bancorp Company Profile

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.