Glacier Bancorp (NASDAQ:GBCI) Announces Earnings Results, Beats Estimates By $0.02 EPS
Glacier Bancorp (NASDAQ:GBCI) announced its earnings results on Thursday. The bank reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02, Morningstar.com reports. Glacier Bancorp had a return on equity of 12.83% and a net margin of 31.38%. The company had revenue of $151.13 million for the quarter, compared to analysts’ expectations of $151.63 million.
Shares of Glacier Bancorp stock traded up $0.59 during trading on Friday, reaching $39.38. 1,190 shares of the stock traded hands, compared to its average volume of 264,871. The firm has a market cap of $3.36 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. Glacier Bancorp has a 52-week low of $36.84 and a 52-week high of $47.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s fifty day moving average price is $39.98.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.27 per share. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.74%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 49.77%.
Several institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. acquired a new position in shares of Glacier Bancorp in the second quarter valued at approximately $276,000. Allied Investment Advisors LLC boosted its stake in shares of Glacier Bancorp by 5.4% in the second quarter. Allied Investment Advisors LLC now owns 9,774 shares of the bank’s stock valued at $396,000 after purchasing an additional 500 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Glacier Bancorp by 1.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 33,335 shares of the bank’s stock valued at $1,352,000 after purchasing an additional 600 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Glacier Bancorp in the second quarter valued at $272,000. Finally, Crossmark Global Holdings Inc. raised its holdings in Glacier Bancorp by 4.7% in the second quarter. Crossmark Global Holdings Inc. now owns 9,180 shares of the bank’s stock valued at $372,000 after acquiring an additional 411 shares in the last quarter. 77.36% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on GBCI. SunTrust Banks set a $75.00 target price on Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, BidaskClub raised WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.80.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc operates as the 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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
Read More: Outstanding Shares
Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.