Glacier Bancorp (NYSE:GBCI) Issues Quarterly Earnings Results, Misses Estimates 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) issued its earnings results on Thursday. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02), Zacks reports. The company had revenue of $240.56 million for the quarter, compared to analysts' expectations of $243.50 million. Glacier Bancorp had a return on equity of 6.62% and a net margin of 16.72%.

Glacier Bancorp Trading Down 1.9%

Shares of NYSE:GBCI traded down $0.88 on Wednesday, reaching $44.95. The company had a trading volume of 755,835 shares, compared to its average volume of 705,116. Glacier Bancorp has a 52-week low of $36.76 and a 52-week high of $60.67. The business has a 50 day moving average of $43.74. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 23.41 and a beta of 0.77. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.42.

Analysts Set New Price Targets

Several equities analysts have recently commented on GBCI shares. Wall Street Zen upgraded Glacier Bancorp from a "strong sell" rating to a "hold" rating in a research note on Saturday. Janney Montgomery Scott upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th.

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.