Glacier Bancorp (NASDAQ:GBCI) Issues Earnings Results, Misses Expectations By $0.04 EPS

Glacier Bancorp (NASDAQ:GBCI) announced its quarterly earnings results on Thursday. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04), Briefing.com reports. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The business had revenue of $196.47 million during the quarter, compared to analysts’ expectations of $202.66 million. During the same period in the previous year, the business earned $0.55 EPS. The business’s revenue was down 8.2% compared to the same quarter last year.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $35.10 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $3.98 billion, a P/E ratio of 17.46 and a beta of 0.80. The business has a fifty day simple moving average of $37.79 and a two-hundred day simple moving average of $36.53. Glacier Bancorp has a 12 month low of $26.77 and a 12 month high of $44.06.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.76%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio (DPR) is currently 65.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GBCI. Truist Financial dropped their price target on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Raymond James raised their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $37.80.

Hedge Funds Weigh In On Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Glacier Bancorp by 35,877.6% during the fourth quarter. Barclays PLC now owns 339,269 shares of the bank’s stock valued at $14,019,000 after buying an additional 338,326 shares during the period. Atlas Capital Advisors LLC bought a new position in shares of Glacier Bancorp during the fourth quarter valued at $86,000. Vanguard Group Inc. increased its holdings in shares of Glacier Bancorp by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock valued at $510,312,000 after acquiring an additional 80,251 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Glacier Bancorp by 10.5% during the fourth quarter. Profund Advisors LLC now owns 9,110 shares of the bank’s stock valued at $376,000 after acquiring an additional 867 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Glacier Bancorp by 9.0% during the fourth quarter. Royal Bank of Canada now owns 386,186 shares of the bank’s stock valued at $15,958,000 after acquiring an additional 31,800 shares in the last quarter. Hedge funds and other institutional investors own 80.17% 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.