Glacier Bancorp (NYSE:GBCI) Announces Earnings Results

Key Points

• Glacier Bancorp reported earnings of $0.62 EPS for the quarter, surpassing the consensus estimate of $0.61 EPS by $0.01.
• The company's stock price decreased by $2.94 to $45.08, while trading volume was significantly higher than its average.
• Analysts have generally rated Glacier Bancorp's stock as a "Buy" or "Hold", reflecting mixed sentiment regarding the company's performance and future potential.

Glacier Bancorp (NYSE:GBCI - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01, Zacks reports. Glacier Bancorp had a net margin of 16.72% and a return on equity of 6.63%.

Glacier Bancorp Stock Performance

Shares of NYSE GBCI traded down $2.94 during midday trading on Thursday, reaching $45.08. The stock had a trading volume of 1,850,859 shares, compared to its average volume of 743,837. Glacier Bancorp has a 12-month low of $36.76 and a 12-month high of $60.67. The business's 50-day simple moving average is $47.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $5.34 billion, a P/E ratio of 23.48 and a beta of 0.79.

Wall Street Analysts Forecast Growth

GBCI has been the topic of a number of research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Glacier Bancorp in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Glacier Bancorp from a "strong sell" rating to a "hold" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.

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