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

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

Glacier Bancorp Trading Up 3.9 %

Shares of GBCI opened at $49.58 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.62 billion, a PE ratio of 30.23 and a beta of 0.80. Glacier Bancorp has a 1 year low of $29.35 and a 1 year high of $50.10. The stock has a 50 day simple moving average of $45.66 and a 200-day simple moving average of $41.11.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.66%. Glacier Bancorp’s dividend payout ratio is currently 80.49%.

Insider Activity at Glacier Bancorp

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the 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 completion of the transaction, the director now directly owns 9,402 shares in the company, valued at $418,859.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.44% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on GBCI shares. Truist Financial upped their price objective on shares of Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 price target on shares of Glacier Bancorp in a report on Tuesday, August 27th. Finally, Raymond James lifted their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One research 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. According to MarketBeat.com, Glacier Bancorp has a consensus rating of “Hold” and an average price target of $44.20.

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.