Analysts Issue Forecasts for Glacier Bancorp, Inc.’s Q2 2024 Earnings (NASDAQ:GBCI)

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Glacier Bancorp in a report issued on Monday, April 22nd. DA Davidson analyst J. Rulis forecasts that the bank will post earnings per share of $0.41 for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 target price on the stock. The consensus estimate for Glacier Bancorp’s current full-year earnings is $1.82 per share. DA Davidson also issued estimates for Glacier Bancorp’s FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same period in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis.

Several other brokerages also recently commented on GBCI. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Raymond James upped their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Truist Financial reduced their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Stephens reissued an “equal weight” rating and set a $44.00 target price on shares of Glacier Bancorp in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.20.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $37.70 on Tuesday. The firm has a 50 day moving average of $37.80 and a 200-day moving average of $36.76. Glacier Bancorp has a 12 month low of $26.77 and a 12 month high of $44.06. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.27 billion, a PE ratio of 21.54 and a beta of 0.80.

Institutional Trading of Glacier Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP increased its stake in Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after buying an additional 479 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC bought a new stake in Glacier Bancorp during the first quarter worth $25,000. FNY Investment Advisers LLC purchased a new position in Glacier Bancorp in the fourth quarter worth $28,000. Finally, Selway Asset Management bought a new position in Glacier Bancorp in the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.50%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s payout ratio is currently 75.43%.

About Glacier Bancorp

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.