Glacier Bancorp (NASDAQ:GBCI) Releases Earnings Results

Glacier Bancorp (NASDAQ:GBCI) announced its quarterly earnings results 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. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same period in the prior year, the business earned $0.47 earnings per share.

Glacier Bancorp Trading Up 3.9 %

Shares of Glacier Bancorp stock traded up $1.85 on Friday, hitting $49.58. 1,177,819 shares of the company’s stock traded hands, compared to its average volume of 641,325. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 28.33 and a beta of 0.80. The company has a fifty day moving average of $45.54 and a two-hundred day moving average of $41.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a one year low of $29.35 and a one year high of $50.10.

Glacier Bancorp Dividend Announcement

The firm 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is 75.43%.

Insiders Place Their Bets

In related news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.