Glacier Bancorp (NASDAQ:GBCI) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) announced its quarterly earnings results on Friday. The bank reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.04), Briefing.com reports. Glacier Bancorp had a net margin of 19.63% and a return on equity of 7.59%. The firm had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The firm's revenue was down 8.2% on a year-over-year basis.

Glacier Bancorp Trading Up 5.3 %

Glacier Bancorp stock traded up $1.85 during trading hours on Friday, reaching $36.95. 1,522,436 shares of the company's stock were exchanged, compared to its average volume of 767,244. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm's 50 day simple moving average is $37.80 and its 200 day simple moving average is $36.59. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06. The firm has a market capitalization of $4.19 billion, a PE ratio of 18.38 and a beta of 0.80.

Glacier Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This is an increase from Glacier Bancorp's previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp's dividend payout ratio (DPR) is presently 65.67%.

Institutional Trading of Glacier Bancorp

A number of large investors have recently bought and sold shares of GBCI. Barclays PLC grew its stake in shares of Glacier Bancorp by 1,498.3% in the 3rd quarter. Barclays PLC now owns 943 shares of the bank's stock valued at $27,000 after buying an additional 884 shares during the period. Covestor Ltd grew its stake in shares of Glacier Bancorp by 115.0% in the 1st quarter. Covestor Ltd now owns 1,045 shares of the bank's stock valued at $53,000 after buying an additional 559 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at about $37,000. State of Wyoming grew its stake in shares of Glacier Bancorp by 57.7% in the 2nd quarter. State of Wyoming now owns 1,568 shares of the bank's stock valued at $49,000 after buying an additional 574 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $68,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James raised their target price on Glacier Bancorp from $36.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, January 5th. StockNews.com raised Glacier Bancorp to a "sell" rating in a research report on Tuesday, March 19th. Stephens reaffirmed an "equal weight" rating and set a $44.00 target price on shares of Glacier Bancorp in a research report on Friday. Finally, Truist Financial lowered their target price on Glacier Bancorp from $45.00 to $42.00 and set a "hold" rating for the company in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $40.40.

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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.