Glacier Bancorp, Inc. Forecasted to Earn Q2 2024 Earnings of $0.41 Per Share (NASDAQ:GBCI)

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for Glacier Bancorp in a note issued to investors on Monday, April 22nd. DA Davidson analyst J. Rulis forecasts that the bank will post earnings per share of $0.41 for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Glacier Bancorp’s current full-year earnings is $1.73 per share. DA Davidson also issued estimates for Glacier Bancorp’s FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. During the same period last year, the business earned $0.55 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis.

Several other research analysts have also recently issued reports on the stock. Raymond James raised their target price on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Truist Financial cut their price objective on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday. Stephens cut their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Trading Down 1.2 %

Shares of Glacier Bancorp stock opened at $37.93 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a fifty day moving average price of $37.91 and a 200 day moving average price of $36.83. Glacier Bancorp has a 1 year low of $26.77 and a 1 year high of $44.06. The stock has a market cap of $4.30 billion, a PE ratio of 21.67 and a beta of 0.80.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were given a $0.33 dividend. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.48%. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

Institutional Trading of Glacier Bancorp

Institutional investors have recently modified their holdings of the stock. Tudor Investment Corp Et Al grew its position in shares of Glacier Bancorp by 536.2% in the third quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock valued at $3,193,000 after purchasing an additional 94,422 shares during the period. Aigen Investment Management LP acquired a new position in Glacier Bancorp during the third quarter worth about $956,000. Massachusetts Financial Services Co. MA boosted its position in Glacier Bancorp by 30.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock worth $29,197,000 after acquiring an additional 239,168 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Glacier Bancorp during the third quarter worth about $2,992,000. Finally, Boston Partners boosted its position in Glacier Bancorp by 37.7% during the third quarter. Boston Partners now owns 172,119 shares of the bank’s stock worth $4,905,000 after acquiring an additional 47,142 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.