FY2024 EPS Estimate for Glacier Bancorp Raised by Analyst

Glacier Bancorp, Inc. (NASDAQ:GBCI) – DA Davidson lifted their FY2024 earnings per share (EPS) estimates for shares of Glacier Bancorp in a report issued on Monday, October 28th. DA Davidson analyst J. Rulis now expects that the bank will post earnings per share of $1.75 for the year, up from their previous estimate of $1.70. The consensus estimate for Glacier Bancorp’s current full-year earnings is $1.63 per share. DA Davidson also issued estimates for Glacier Bancorp’s FY2025 earnings at $2.40 EPS.

A number of other analysts have also recently commented on the company. Truist Financial upped their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday. Raymond James upped their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler raised their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and an average target price of $46.20.

Glacier Bancorp Trading Up 1.1 %

Shares of GBCI stock opened at $52.61 on Wednesday. The firm’s 50 day moving average is $46.01 and its 200 day moving average is $41.37. The stock has a market capitalization of $5.97 billion, a P/E ratio of 32.48 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. Glacier Bancorp has a 12-month low of $29.35 and a 12-month high of $52.62.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The firm had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. During the same quarter last year, the firm posted $0.47 EPS.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Tuesday, October 8th. Glacier Bancorp’s payout ratio is 81.48%.

Hedge Funds Weigh In On Glacier Bancorp

A number of hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Glacier Bancorp during the 1st quarter valued at $25,000. International Assets Investment Management LLC purchased a new position in shares of Glacier Bancorp in the second quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Glacier Bancorp in the first quarter worth about $50,000. GAMMA Investing LLC grew its position in shares of Glacier Bancorp by 96.9% during the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $207,000. 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.