Glacier Bancorp (NASDAQ:GBCI) Announces Earnings Results, Misses Expectations By $0.13 EPS

Glacier Bancorp (NASDAQ:GBCI) announced its earnings results on Thursday. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13), Briefing.com reports. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the company posted $0.54 earnings per share.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI traded up $0.30 during mid-day trading on Thursday, hitting $49.97. 1,382,349 shares of the stock were exchanged, compared to its average volume of 915,139. Glacier Bancorp has a twelve month low of $36.76 and a twelve month high of $51.98. The stock’s fifty day simple moving average is $44.60 and its two-hundred day simple moving average is $45.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $6.49 billion, a P/E ratio of 29.92 and a beta of 0.75.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Glacier Bancorp’s dividend payout ratio is presently 64.71%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GBCI. DA Davidson restated a “buy” rating and issued a $58.00 target price on shares of Glacier Bancorp in a report on Wednesday, November 12th. Keefe, Bruyette & Woods upgraded Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Monday, December 15th. Raymond James Financial lowered their target price on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Finally, Piper Sandler raised shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $50.00 to $58.00 in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Buy” and an average price target of $53.60.

Insider Transactions at Glacier Bancorp

In other news, CEO Randall M. Chesler acquired 2,437 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $40.91 per share, for a total transaction of $99,697.67. Following the completion of the acquisition, the chief executive officer owned 7,422 shares in the company, valued at $303,634.02. This trade represents a 48.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ron J. Copher bought 2,400 shares of the stock in a transaction on Wednesday, November 5th. The stock was purchased at an average cost of $41.17 per share, with a total value of $98,808.00. Following the purchase, the chief financial officer directly owned 96,626 shares of the company’s stock, valued at approximately $3,978,092.42. This represents a 2.55% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 8,852 shares of company stock valued at $364,484 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Glacier Bancorp

A number of institutional investors have recently made changes to their positions in the business. EP Wealth Advisors LLC grew its holdings in shares of Glacier Bancorp by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 21,642 shares of the bank’s stock worth $932,000 after purchasing an additional 394 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock worth $31,000 after acquiring an additional 490 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Glacier Bancorp by 5.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 9,500 shares of the bank’s stock worth $409,000 after acquiring an additional 500 shares in the last quarter. Front Street Capital Management Inc. increased its stake in Glacier Bancorp by 2.7% in the second quarter. Front Street Capital Management Inc. now owns 19,644 shares of the bank’s stock valued at $846,000 after acquiring an additional 522 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Glacier Bancorp by 4.6% during the 2nd quarter. Federated Hermes Inc. now owns 14,316 shares of the bank’s stock worth $617,000 after buying an additional 631 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.