Glacier Bancorp (NASDAQ:GBCI) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Glacier Bancorp (NASDAQ:GBCI) issued its quarterly earnings results on Thursday. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02, Briefing.com reports. The firm had revenue of $306.04 million during the quarter, compared to the consensus estimate of $204.43 million. Glacier Bancorp had a return on equity of 6.13% and a net margin of 15.15%. During the same period last year, the company earned $0.50 earnings per share.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI traded down $0.24 on Friday, hitting $43.03. The company’s stock had a trading volume of 846,468 shares, compared to its average volume of 710,804. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50 day moving average of $37.62 and a 200-day moving average of $38.09. Glacier Bancorp has a 12-month low of $26.83 and a 12-month high of $44.75. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 26.38 and a beta of 0.81.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.32 annualized dividend and a yield of 3.07%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GBCI. Truist Financial reduced their target price on shares of Glacier Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Monday, July 8th. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. Stephens lowered their price target on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Finally, DA Davidson reduced their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.00.

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.