Glacier Bancorp (NASDAQ:GBCI) Releases Quarterly Earnings Results

Glacier Bancorp (NASDAQ:GBCI) issued its quarterly earnings results on Thursday. The bank reported $0.49 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 period in the prior year, the business earned $0.54 earnings per share.

Glacier Bancorp Stock Performance

NASDAQ GBCI traded up $0.30 during trading on Thursday, reaching $49.97. 1,382,349 shares of the company’s stock were exchanged, compared to its average volume of 915,139. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day moving average price of $44.60 and a 200-day moving average price of $45.54. The stock has a market capitalization of $6.49 billion, a P/E ratio of 29.92 and a beta of 0.75. Glacier Bancorp has a fifty-two week low of $36.76 and a fifty-two week high of $51.98.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, December 9th were issued 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 presently 64.71%.

Analyst Ratings Changes

Several research firms have commented on GBCI. Raymond James Financial cut their target price on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Keefe, Bruyette & Woods upgraded shares of Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Monday, December 15th. DA Davidson reissued a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, November 12th. Finally, Piper Sandler raised shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $50.00 to $58.00 in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.60.

Insiders Place Their Bets

In related news, insider Lee Kenneth Groom acquired 2,425 shares of Glacier Bancorp stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of $41.26 per share, with a total value of $100,055.50. Following the completion of the transaction, the insider directly owned 14,343 shares in the company, valued at $591,792.18. This trade represents a 20.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ron J. Copher acquired 2,400 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average price of $41.17 per share, for a total transaction of $98,808.00. Following the completion of the acquisition, the chief financial officer owned 96,626 shares of the company’s stock, valued at approximately $3,978,092.42. The trade was a 2.55% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 8,852 shares of company stock valued at $364,484. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Glacier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of GBCI. EP Wealth Advisors LLC raised its position in shares of Glacier Bancorp by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 21,642 shares of the bank’s stock valued at $932,000 after buying an additional 394 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock valued at $31,000 after acquiring an additional 490 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Glacier Bancorp by 5.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 9,500 shares of the bank’s stock valued at $409,000 after acquiring an additional 500 shares during the period. Front Street Capital Management Inc. lifted its position in shares of Glacier Bancorp by 2.7% during the 2nd quarter. Front Street Capital Management Inc. now owns 19,644 shares of the bank’s stock valued at $846,000 after acquiring an additional 522 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Glacier Bancorp by 4.6% during the 2nd quarter. Federated Hermes Inc. now owns 14,316 shares of the bank’s stock worth $617,000 after purchasing an additional 631 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

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.