DA Davidson Increases Earnings Estimates for Glacier Bancorp

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Analysts at DA Davidson boosted their FY2024 earnings per share (EPS) estimates for Glacier Bancorp in a note issued to investors 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 prior forecast 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.

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

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

Glacier Bancorp Stock Up 1.1 %

Shares of GBCI opened at $52.61 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average of $46.01 and a 200 day moving average of $41.37. The company has a market cap of $5.97 billion, a PE ratio of 32.48 and a beta of 0.80. Glacier Bancorp has a 52-week low of $29.35 and a 52-week high of $52.62.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp during the first quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new stake in Glacier Bancorp during the 2nd quarter valued at $25,000. Headlands Technologies LLC purchased a new position in shares of Glacier Bancorp in the 1st quarter valued at $50,000. GAMMA Investing LLC raised its position in shares of Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after acquiring an additional 772 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Glacier Bancorp during the 2nd quarter worth $207,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Announces Dividend

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

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.