FY2024 EPS Estimates for Glacier Bancorp Lifted by Analyst

Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) - Research analysts at DA Davidson increased their FY2024 EPS estimates for Glacier Bancorp in a report issued on Monday, October 28th. DA Davidson analyst J. Rulis now anticipates that the bank will earn $1.75 per share for the year, up from their prior estimate of $1.70. The consensus estimate for Glacier Bancorp's current full-year earnings is $1.63 per share. DA Davidson also issued estimates for Glacier Bancorp's FY2025 earnings at $2.40 EPS.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The company had revenue of $324.28 million for the quarter, compared to analysts' expectations of $212.57 million. During the same period in the previous year, the business posted $0.47 earnings per share.

A number of other equities research analysts also recently weighed in on GBCI. Truist Financial lifted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" rating in a report on Monday. Raymond James increased their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.20.

Glacier Bancorp Trading Up 1.3 %

GBCI stock traded up $0.69 during trading on Wednesday, hitting $53.30. The company had a trading volume of 810,483 shares, compared to its average volume of 644,413. The stock has a market cap of $6.04 billion, a PE ratio of 32.48 and a beta of 0.80. Glacier Bancorp has a one year low of $29.35 and a one year high of $53.93. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average of $46.01 and a 200-day moving average of $41.37.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Capital Research Global Investors increased its holdings in shares of Glacier Bancorp by 60.3% in the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank's stock worth $77,539,000 after purchasing an additional 724,089 shares during the period. Clifford Capital Partners LLC lifted its position in shares of Glacier Bancorp by 2,389.9% in the 1st quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank's stock worth $12,088,000 after purchasing an additional 288,056 shares during the period. Millennium Management LLC boosted its position in Glacier Bancorp by 131.9% during the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank's stock valued at $17,807,000 after acquiring an additional 271,398 shares in the last quarter. Sei Investments Co. raised its holdings in Glacier Bancorp by 123.9% in the second quarter. Sei Investments Co. now owns 332,062 shares of the bank's stock worth $12,393,000 after purchasing an additional 183,757 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in shares of Glacier Bancorp by 145.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank's stock worth $11,513,000 after acquiring an additional 182,600 shares in the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.48%. Glacier Bancorp's dividend payout ratio is presently 81.48%.

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.