DA Davidson Weighs in on Glacier Bancorp, Inc.’s Q2 2024 Earnings (NASDAQ:GBCI)

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for Glacier Bancorp in a research note issued to investors 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 target on the stock. The consensus estimate for Glacier Bancorp’s current full-year earnings is $1.82 per share. DA Davidson also issued estimates for Glacier Bancorp’s FY2024 earnings at $1.80 EPS and FY2025 earnings at $2.45 EPS.

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

Glacier Bancorp Trading Up 1.8 %

Shares of NASDAQ:GBCI opened at $38.38 on Tuesday. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 21.93 and a beta of 0.80. Glacier Bancorp has a 1-year low of $26.77 and a 1-year high of $44.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The company has a 50 day moving average price of $37.86 and a 200 day moving average price of $36.82.

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

Glacier Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its position in Glacier Bancorp by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the bank’s stock worth $1,285,000 after acquiring an additional 800 shares during the last quarter. Berry Wealth Group LP acquired a new position in Glacier Bancorp during the 1st quarter worth $261,000. Ashton Thomas Private Wealth LLC lifted its position in Glacier Bancorp by 0.6% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 254,299 shares of the bank’s stock worth $10,243,000 after acquiring an additional 1,610 shares during the last quarter. State of Michigan Retirement System lifted its position in Glacier Bancorp by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock worth $1,097,000 after acquiring an additional 600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp during the 1st quarter worth $25,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.