Glacier Bancorp, Inc. (NASDAQ:GBCI) Forecasted to Post Q2 2023 Earnings of $0.56 Per Share

Posted by Defense World Staff on Apr 26th, 2023

Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) – Research analysts at DA Davidson issued their Q2 2023 earnings per share estimates for Glacier Bancorp in a report issued on Monday, April 24th. DA Davidson analyst J. Rulis expects that the bank will earn $0.56 per share for the quarter. The consensus estimate for Glacier Bancorp’s current full-year earnings is $2.54 per share.

Glacier Bancorp (NASDAQ:GBCI – Get Rating) last released its quarterly earnings results on Friday, April 21st. The bank reported $0.55 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.08). Glacier Bancorp had a net margin of 30.08% and a return on equity of 10.37%. The business had revenue of $214.09 million during the quarter, compared to analysts’ expectations of $229.49 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year.

A number of other equities research analysts also recently commented on the stock. StockNews.com initiated coverage on shares of Glacier Bancorp in a research report on Thursday, March 16th. They issued a “sell” rating for the company. Truist Financial reduced their target price on Glacier Bancorp from $49.00 to $40.00 in a report on Monday. Stephens reiterated an “equal weight” rating and issued a $43.00 price target on shares of Glacier Bancorp in a report on Friday, April 21st. Finally, Raymond James decreased their price target on Glacier Bancorp from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th.

Glacier Bancorp Stock Down 5.8 %

GBCI stock opened at $32.78 on Tuesday. The stock has a market capitalization of $3.63 billion, a PE ratio of 12.23 and a beta of 0.80. The company has a fifty day moving average of $42.32 and a 200-day moving average of $48.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.70 and a current ratio of 0.70. Glacier Bancorp has a one year low of $32.54 and a one year high of $59.70.

Institutional Investors Weigh In On Glacier Bancorp

Hedge funds have recently made changes to their positions in the business. Resonant Capital Advisors LLC lifted its position in Glacier Bancorp by 2.1% during the third quarter. Resonant Capital Advisors LLC now owns 9,616 shares of the bank’s stock worth $472,000 after buying an additional 197 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Glacier Bancorp by 1.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,870 shares of the bank’s stock worth $982,000 after acquiring an additional 211 shares during the last quarter. Buckingham Strategic Partners grew its holdings in Glacier Bancorp by 2.2% in the third quarter. Buckingham Strategic Partners now owns 9,715 shares of the bank’s stock valued at $477,000 after purchasing an additional 212 shares during the period. Securian Asset Management Inc. increased its position in Glacier Bancorp by 2.2% during the third quarter. Securian Asset Management Inc. now owns 10,114 shares of the bank’s stock worth $497,000 after purchasing an additional 219 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Glacier Bancorp by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,569 shares of the bank’s stock worth $1,610,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 70.54% of the company’s stock.

Insider Activity at Glacier Bancorp

In related news, Chairman Craig A. Langel purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was bought at an average cost of $32.82 per share, with a total value of $82,050.00. Following the completion of the acquisition, the chairman now directly owns 88,957 shares in the company, valued at approximately $2,919,568.74. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Ron J. Copher bought 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were purchased at an average price of $32.94 per share, for a total transaction of $72,468.00. Following the completion of the transaction, the chief financial officer now owns 79,694 shares in the company, valued at $2,625,120.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Craig A. Langel bought 2,500 shares of the stock in a transaction on Tuesday, April 25th. The stock was purchased at an average cost of $32.82 per share, with a total value of $82,050.00. Following the completion of the purchase, the chairman now directly owns 88,957 shares in the company, valued at approximately $2,919,568.74. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 15,403 shares of company stock valued at $573,933. 0.44% of the stock is owned by corporate insiders.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Tuesday, April 11th were given a dividend of $0.33 per share. The ex-dividend date was Monday, April 10th. This represents a $1.32 annualized dividend and a dividend yield of 4.03%. Glacier Bancorp’s dividend payout ratio is currently 49.25%.

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.