FY2024 EPS Forecast for Glacier Bancorp Raised by Analyst

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Equities researchers at DA Davidson boosted their FY2024 earnings estimates for Glacier Bancorp in a research report issued to clients and investors on Monday, October 28th. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings of $1.75 per share 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.

Glacier Bancorp (NASDAQ:GBCI) last released 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. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The business had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. During the same period in the previous year, the firm earned $0.47 EPS.

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

Glacier Bancorp Trading Down 2.2 %

Glacier Bancorp stock opened at $52.16 on Wednesday. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 32.20 and a beta of 0.80. Glacier Bancorp has a 1 year low of $29.35 and a 1 year high of $53.93. The firm’s 50 day moving average price is $46.36 and its two-hundred day moving average price is $41.52. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81.

Hedge Funds Weigh In On Glacier Bancorp

A number of large investors have recently made changes to their positions in the business. Capital Research Global Investors grew its position in Glacier Bancorp by 60.3% during the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after purchasing an additional 724,089 shares in the last quarter. Clifford Capital Partners LLC raised its holdings in shares of Glacier Bancorp by 2,389.9% during the first quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock worth $12,088,000 after acquiring an additional 288,056 shares in the last quarter. Millennium Management LLC boosted its position in Glacier Bancorp by 131.9% during the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after purchasing an additional 271,398 shares during the last quarter. Sei Investments Co. grew its stake in Glacier Bancorp by 123.9% in the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock valued at $12,393,000 after purchasing an additional 183,757 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its position in Glacier Bancorp by 145.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after purchasing an additional 182,600 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.53%. The ex-dividend date 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.