Glacier Bancorp (NYSE:GBCI) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Glacier Bancorp (NYSE:GBCI) issued its earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.10), FiscalAI reports. The firm had revenue of $306.51 million during the quarter. Glacier Bancorp had a net margin of 17.52% and a return on equity of 7.11%.

Glacier Bancorp Stock Up 0.6%

GBCI stock traded up $0.28 during mid-day trading on Thursday, hitting $49.95. 1,382,349 shares of the company were exchanged, compared to its average volume of 915,115. The firm has a fifty day simple moving average of $44.44 and a 200 day simple moving average of $45.52. The company has a market capitalization of $6.49 billion, a PE ratio of 24.49 and a beta of 0.75. Glacier Bancorp has a twelve month low of $36.76 and a twelve month high of $51.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

Several research firms recently commented on GBCI. Wall Street Zen lowered shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Keefe, Bruyette & Woods raised shares of Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Glacier Bancorp in a research report on Monday, December 29th. Finally, Piper Sandler upgraded Glacier Bancorp from a “hold” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $56.50.

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.