Glacier Bancorp (NYSE:GBCI) Posts Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Glacier Bancorp reported earnings of $0.45 per share for the quarter, falling short of analysts' expectations of $0.47 by $0.02.
• The company's revenue for the quarter was $240.56 million, which also missed the consensus estimate of $243.50 million.
• Following the earnings announcement, Glacier Bancorp shares increased by $0.74, reaching a price of $45.30 during midday trading.

Glacier Bancorp (NYSE:GBCI - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02), Zacks reports. Glacier Bancorp had a net margin of 16.72% and a return on equity of 6.77%. The firm had revenue of $240.56 million during the quarter, compared to the consensus estimate of $243.50 million.

Glacier Bancorp Price Performance

Shares of GBCI traded up $0.74 during midday trading on Friday, hitting $45.30. 900,773 shares of the company traded hands, compared to its average volume of 802,711. The stock's 50-day moving average is $43.63. Glacier Bancorp has a one year low of $36.76 and a one year high of $60.67. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 23.59 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.80 and a current ratio of 0.81.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GBCI shares. Janney Montgomery Scott upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Wall Street Zen upgraded Glacier Bancorp from a "strong sell" rating to a "hold" rating in a research report on Saturday.

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. 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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