Glacier Bancorp, Inc. (NASDAQ:GBCI) Expected to Post Q2 2024 Earnings of $0.41 Per Share

Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for Glacier Bancorp in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst J. Rulis forecasts that the bank will earn $0.41 per share for the quarter. DA Davidson has a "Buy" rating and a $45.00 price target on the stock. The consensus estimate for Glacier Bancorp's current full-year earnings is $1.82 per share. DA Davidson also issued estimates for Glacier Bancorp's FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same period last year, the business posted $0.55 earnings per share. The firm's quarterly revenue was down 8.2% on a year-over-year basis.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Glacier Bancorp to a "sell" rating in a research report on Tuesday, March 19th. Stephens dropped 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 report on Tuesday. Raymond James raised their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, January 5th. Finally, Truist Financial dropped their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a "hold" rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $40.40.

Glacier Bancorp Stock Up 1.8 %

Shares of GBCI traded up $0.69 during trading hours on Tuesday, reaching $38.38. 574,149 shares of the stock traded hands, compared to its average volume of 764,438. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $37.80 and a 200 day simple moving average of $36.76. Glacier Bancorp has a 52 week low of $26.77 and a 52 week high of $44.06. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 21.87 and a beta of 0.80.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Glacier Bancorp's previous quarterly dividend of $0.10. Glacier Bancorp's dividend payout ratio (DPR) is 75.43%.

Institutional Trading of Glacier Bancorp

A number of large investors have recently added to or reduced their stakes in GBCI. Cooke & Bieler LP increased its holdings in Glacier Bancorp by 34.0% during the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank's stock worth $133,847,000 after buying an additional 821,199 shares during the last quarter. Norges Bank purchased a new position in shares of Glacier Bancorp in the fourth quarter worth about $32,617,000. Envestnet Asset Management Inc. increased its stake in shares of Glacier Bancorp by 361.0% in the third quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank's stock worth $25,724,000 after purchasing an additional 706,833 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Glacier Bancorp by 124.7% in the fourth quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank's stock worth $49,622,000 after purchasing an additional 666,478 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Glacier Bancorp by 5,065.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 586,360 shares of the bank's stock worth $24,228,000 after purchasing an additional 575,008 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

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.