Glacier Bancorp (NYSE:GBCI – Get Free Report) issued its earnings results on Thursday. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.79 by $0.02, FiscalAI reports. Glacier Bancorp had a return on equity of 8.42% and a net margin of 21.24%. The company had revenue of $333.42 million during the quarter. During the same quarter in the prior year, the business earned $0.57 earnings per share.
Glacier Bancorp Stock Up 4.1%
Shares of NYSE GBCI traded up $1.90 during mid-day trading on Friday, reaching $47.89. 2,576,555 shares of the company’s stock traded hands, compared to its average volume of 1,086,587. The stock has a market cap of $6.24 billion, a P/E ratio of 17.94 and a beta of 0.77. The business has a 50-day simple moving average of $45.27 and a 200 day simple moving average of $47.80. Glacier Bancorp has a 1-year low of $39.90 and a 1-year high of $54.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84.
Glacier Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, October 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, October 6th. Glacier Bancorp’s payout ratio is 52.43%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on GBCI. DA Davidson reiterated a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a report on Monday, July 27th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and a consensus price target of $56.40.
Get Our Latest Stock Report on Glacier Bancorp
Key Stories Impacting Glacier Bancorp
Here are the key news stories impacting Glacier Bancorp this week:
- Positive Sentiment: Record quarterly profit: Third-quarter net income reached $105 million, up 54% year over year and 7% sequentially. Diluted EPS was approximately $0.80–$0.81, exceeding the $0.79 consensus estimate and rising from $0.57 a year earlier. Glacier Bancorp Announces Third-Quarter Results
- Positive Sentiment: Efficiency initiatives support the outlook: Management outlined a 54% to 55% efficiency target while maintaining its fourth-quarter expense guidance of $187 million to $192 million. Meeting or improving these targets could support future earnings growth. Glacier Bancorp Efficiency Target and Expense Guidance
- Positive Sentiment: Strong year-over-year improvement: Earnings increased substantially from the prior-year quarter, with reported net margin of 19.72% and return on equity of 7.97%, reinforcing the positive earnings momentum. Glacier Bancorp Earnings Results
- Neutral Sentiment: Analysts and investors are reviewing third-quarter credit metrics, including reported net charge-offs, as part of evaluating the bank’s asset quality and risk outlook. Glacier Bancorp Net Charge-Offs
- Neutral Sentiment: A separate valuation analysis argues that GBCI may be about 25% undervalued based on excess-return assumptions, potentially supporting investor interest, although the estimate is model-dependent. Glacier Bancorp Valuation Analysis
- Negative Sentiment: Despite the earnings beat, quarterly revenue was reported at $333.42 million and was characterized in some coverage as below analyst expectations, limiting the strength of the overall results. Glacier Bancorp Revenue Report
Insider Activity at Glacier Bancorp
In other Glacier Bancorp news, Chairman Craig Langel bought 2,250 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the acquisition, the chairman directly owned 98,684 shares of the company’s stock, valued at approximately $4,642,095.36. The trade was a 2.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by insiders.
Institutional Trading of Glacier Bancorp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Glacier Bancorp in the 2nd quarter valued at $913,766,000. Bank of America Corp DE bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth $62,719,000. Madison Asset Management LLC bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth $59,048,000. Bank of New York Mellon Corp purchased a new position in shares of Glacier Bancorp in the 2nd quarter worth about $55,775,000. Finally, Jupiter Topco LLC purchased a new position in shares of Glacier Bancorp in the 2nd quarter worth about $48,377,000. 80.17% of the stock is owned by institutional investors.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries, including Glacier Bank, the company provides financial services to individuals, families, businesses and community organizations across the Mountain West and Inland Northwest.
The company’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgages, commercial and real estate lending, agricultural loans, cash-management services and online and mobile banking.
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