Glacier Bancorp (GBCI) set to report quarterly results on Thursday

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Glacier Bancorp (NASDAQ:GBCI – Get Rating) is expected to report quarterly results after market close on Thursday, October 20. Analysts expect Glacier Bancorp to post earnings of $0.73 per share for the quarter. Those wishing to listen to the company’s earnings conference call can do so using this link.

Glacier Bancorp (NASDAQ:GBCI – Get Rating) last released its results on Thursday, July 21. The bank reported earnings per share (EPS) of $0.69 for the quarter, meeting analyst consensus estimates of $0.69. Glacier Bancorp had a net margin of 30.72% and a return on equity of 9.50%. The company posted revenue of $221.72 million for the quarter, versus analyst estimates of $225.85 million. In the same quarter a year earlier, the company posted EPS of $0.81. On average, analysts expect Glacier Bancorp to post EPS of $3 for the current fiscal year and EPS of $3 for the next fiscal year.

Glacier Bancorp Price Performance

NASDAQ:GBCI shares opened at $50.28 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt ratio of 0.27. Glacier Bancorp has a fifty-two week low of $44.43 and a fifty-two week high of $60.69. The company has a 50-day simple moving average of $51.33 and a 200-day simple moving average of $49.00. The company has a market capitalization of $5.57 billion, a PE ratio of 19.72 and a beta of 0.76.

Glacier Bancorp increases its dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20. Investors of record on Tuesday, October 11 will receive a dividend of $0.33 per share. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 2.63%. The ex-date of this dividend is Friday, October 7. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is currently 51.76%.

Institutional investors weigh in on Glacier Bancorp

Hedge funds have recently changed their positions in the business. First Republic Investment Management Inc. raised its position in shares of Glacier Bancorp by 10.7% in the second quarter. First Republic Investment Management Inc. now owns 17,638 shares of the bank valued at $836,000 after acquiring 1,702 additional shares last quarter. Jane Street Group LLC increased its position in Glacier Bancorp by 129.7% in Q1. Jane Street Group LLC now owns 15,591 shares of the bank worth $784,000 after buying an additional 8,802 shares last quarter. Cubist Systematic Strategies LLC increased its position in Glacier Bancorp by 41.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 16,521 shares of the bank worth $783,000 after purchasing an additional 4,862 shares last quarter. Moors & Cabot Inc. acquired a new stake in Glacier Bancorp in Q1 worth approximately $758,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Glacier Bancorp in Q1 worth approximately $699,000. Hedge funds and other institutional investors hold 69.88% of the company’s shares.

A Wall Street analyst gives his opinion

Several research analysts have commented on GBCI’s actions. Truist Financial raised its price target on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a Wednesday, September 14 research report. StockNews.com began covering Glacier Bancorp shares in a research report on Wednesday. They issued a “sell” rating for the company.

Glacier Bancorp Company Profile

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Glacier Bancorp, Inc operates as a bank holding company for Glacier Bank which provides commercial banking services to individuals, small and medium businesses, community organizations and public entities in the United States. It offers non-interest bearing deposit accounts and interest bearing deposit accounts, such as negotiable withdrawal orders and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate deposit, negotiated rate jumbo certificates and individual retirement accounts.

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Earnings History for Glacier Bancorp (NASDAQ:GBCI)

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