Glacier Bancorp (NYSE:GBCI) Announces Quarterly Earnings Results

Glacier Bancorp (NYSE:GBCI) announced its quarterly earnings data on Thursday. The company reported $0.81 earnings per share for the quarter, FiscalAI reports. The business had revenue of $333.42 million for the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%.

Glacier Bancorp Stock Performance

Glacier Bancorp stock traded up $1.33 during midday trading on Thursday, reaching $46.02. 1,264,953 shares of the company traded hands, compared to its average volume of 1,054,988. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day moving average of $45.39 and a two-hundred day moving average of $47.80. Glacier Bancorp has a 12 month low of $39.90 and a 12 month high of $54.58.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, October 6th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, October 6th. This represents a $1.40 annualized dividend and a yield of 3.0%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.33. Glacier Bancorp’s dividend payout ratio (DPR) is currently 57.38%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GBCI. Weiss Ratings raised Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. DA Davidson restated a “buy” rating and set a $58.00 price target on shares of Glacier Bancorp in a report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.40.

Insider Transactions at Glacier Bancorp

In other news, Chairman Craig Langel purchased 2,250 shares of the business’s stock in a transaction on Friday, August 28th. The stock was acquired at an average cost of $47.04 per share, for a total transaction of $105,840.00. Following the purchase, the chairman directly owned 98,684 shares in the company, valued at $4,642,095.36. This trade represents a 2.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC purchased a new stake in Glacier Bancorp in the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Glacier Bancorp during the 4th quarter worth approximately $35,000. Assetmark Inc. raised its stake in Glacier Bancorp by 33.9% during the 1st quarter. Assetmark Inc. now owns 813 shares of the company’s stock worth $36,000 after acquiring an additional 206 shares during the period. Allworth Financial LP bought a new stake in Glacier Bancorp during the 2nd quarter worth approximately $46,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Glacier Bancorp during the second quarter valued at approximately $65,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

About Glacier Bancorp

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.