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

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for Glacier Bancorp in a report released on Monday, April 22nd. DA Davidson analyst J. Rulis expects that the bank will post earnings per share of $0.41 for the quarter. DA Davidson has a “Buy” rating and a $45.00 price objective 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.

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

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $37.93 on Tuesday. The stock has a market cap of $4.30 billion, a P/E ratio of 21.67 and a beta of 0.80. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $37.91 and a 200-day moving average of $36.83. Glacier Bancorp has a 52 week low of $26.77 and a 52 week high of $44.06.

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

Glacier Bancorp Increases Dividend

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

Hedge Funds Weigh In On Glacier Bancorp

Several large investors have recently added to or reduced their stakes in GBCI. AE Wealth Management LLC lifted its stake in Glacier Bancorp by 19.4% in the third quarter. AE Wealth Management LLC now owns 12,628 shares of the bank’s stock valued at $360,000 after buying an additional 2,052 shares during the last quarter. SG Americas Securities LLC lifted its stake in Glacier Bancorp by 83.6% in the third quarter. SG Americas Securities LLC now owns 79,023 shares of the bank’s stock valued at $2,252,000 after buying an additional 35,984 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Glacier Bancorp by 6.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 41,876 shares of the bank’s stock valued at $1,193,000 after buying an additional 2,415 shares during the last quarter. Raymond James & Associates lifted its stake in Glacier Bancorp by 3.1% in the third quarter. Raymond James & Associates now owns 991,073 shares of the bank’s stock valued at $28,246,000 after buying an additional 29,482 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in Glacier Bancorp by 15.4% in the third quarter. Stratos Wealth Partners LTD. now owns 53,456 shares of the bank’s stock valued at $1,524,000 after buying an additional 7,150 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

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.