Glacier Bancorp (NASDAQ:GBCI) Announces Earnings Results, Beats Estimates By $0.03 EPS

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) issued its earnings results on Thursday. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03, Briefing.com reports. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. During the same period in the previous year, the company posted $0.47 EPS.

Glacier Bancorp Price Performance

Shares of GBCI traded up $1.85 during trading hours on Friday, hitting $49.58. 1,177,819 shares of the company were exchanged, compared to its average volume of 641,325. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 28.33 and a beta of 0.80. The firm's fifty day moving average is $45.54 and its 200 day moving average is $41.02. Glacier Bancorp has a fifty-two week low of $29.35 and a fifty-two week high of $50.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.66%. Glacier Bancorp's payout ratio is 75.43%.

Insider Buying and Selling

In related news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total value of $250,326.45. Following the transaction, the director now directly owns 9,402 shares of the company's stock, valued at $418,859.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GBCI. Piper Sandler restated a "neutral" rating and set a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. Raymond James boosted their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Truist Financial upped their price objective on Glacier Bancorp from $46.00 to $50.00 and gave the company a "hold" rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $44.20.

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.

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