Glacier Bancorp (GBCI) Set to Announce Quarterly Earnings on Thursday

Posted by Defense World Staff on Apr 13th, 2023

Glacier Bancorp (NASDAQ:GBCI – Get Rating) will be issuing its quarterly earnings data after the market closes on Thursday, April 20th. Analysts expect the company to announce earnings of $0.63 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Glacier Bancorp (NASDAQ:GBCI – Get Rating) last posted its quarterly earnings results on Friday, January 27th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Glacier Bancorp had a return on equity of 10.60% and a net margin of 31.90%. The business had revenue of $253.57 million for the quarter, compared to analysts’ expectations of $242.03 million. During the same period in the prior year, the business posted $0.46 earnings per share. On average, analysts expect Glacier Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Glacier Bancorp Stock Performance

GBCI opened at $39.00 on Thursday. Glacier Bancorp has a 12-month low of $37.07 and a 12-month high of $59.70. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $4.32 billion, a PE ratio of 14.23 and a beta of 0.80. The firm has a 50 day moving average of $44.18 and a two-hundred day moving average of $49.35.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 20th. Shareholders of record on Tuesday, April 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, April 10th. Glacier Bancorp’s dividend payout ratio is presently 48.18%.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of recent research reports. Raymond James reduced their price target on shares of Glacier Bancorp from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. Truist Financial cut their target price on shares of Glacier Bancorp from $62.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, February 1st. Finally, StockNews.com initiated coverage on shares of Glacier Bancorp in a report on Thursday, March 16th. They set a “sell” rating for the company.

Insider Buying and Selling

In other Glacier Bancorp news, Chairman Craig A. Langel bought 5,000 shares of the stock in a transaction on Friday, March 10th. The shares were bought at an average price of $40.21 per share, with a total value of $201,050.00. Following the purchase, the chairman now directly owns 86,457 shares in the company, valued at approximately $3,476,435.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Glacier Bancorp news, CFO Ron J. Copher bought 2,578 shares of the stock in a transaction on Monday, March 13th. The shares were bought at an average price of $38.74 per share, with a total value of $99,871.72. Following the purchase, the chief financial officer now directly owns 77,494 shares in the company, valued at approximately $3,002,117.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Craig A. Langel bought 5,000 shares of the stock in a transaction on Friday, March 10th. The shares were acquired at an average cost of $40.21 per share, for a total transaction of $201,050.00. Following the purchase, the chairman now owns 86,457 shares in the company, valued at $3,476,435.97. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 10,078 shares of company stock valued at $398,897. 0.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Raymond James Financial Services Advisors Inc. boosted its position in shares of Glacier Bancorp by 3.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,668 shares of the bank’s stock valued at $1,492,000 after acquiring an additional 926 shares during the last quarter. US Bancorp DE boosted its position in shares of Glacier Bancorp by 2.9% during the 1st quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock valued at $559,000 after acquiring an additional 308 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of Glacier Bancorp during the 1st quarter valued at about $410,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Glacier Bancorp by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,755 shares of the bank’s stock valued at $1,999,000 after acquiring an additional 3,791 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Glacier Bancorp by 6.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 58,637 shares of the bank’s stock valued at $3,029,000 after acquiring an additional 3,729 shares during the last quarter. Institutional investors and hedge funds own 70.54% of the company’s stock.

Glacier Bancorp Company Profile

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Glacier Bancorp, Inc engages in the provision of banking services to individuals and businesses. Its portfolio segment of loans includes residential, commercial, and other commercial real estate, home equity, and other consumer. The firm also offers retail banking, business banking, real estate, commercial, agriculture, and consumer loans, and mortgage origination and loan servicing.