Glacier Bancorp Inc (NASDAQ:GBCI) released its quarterly earnings data on Thursday. The bank reported earnings per share of $0.46 for the quarter, beating the Zacks consensus estimate of $0.43 by $0.03, MarketWatch Earnings reports. Glacier Bancorp had a net margin of 38.78% and a return on equity of 13.52%. The company posted revenue of $221.98 million in the quarter, compared to $228.89 million expected by analysts. During the same period last year, the company posted EPS of $0.86. The company’s revenue increased 5.5% year over year.
NASDAQ GBCI traded down $1.37 during Friday’s midday session, hitting $51.30. 23,718 shares were traded, against an average volume of 354,870. Glacier Bancorp has a 1-year low of $46.34 and a 1-year high of $67.35. The company’s 50-day simple moving average is $57.00 and its 200-day simple moving average is $54.96. The stock has a market capitalization of $5.68 billion, a PE ratio of 15.91 and a beta of 0.91. The company has a debt ratio of 0.07, a quick ratio of 0.62 and a current ratio of 0.63.
The company also recently announced a dividend, which was paid on Thursday, January 20. Investors of record on Tuesday, January 11 received a dividend of $0.10 per share. The ex-dividend date was Monday, January 10. Glacier Bancorp’s dividend payout ratio (DPR) is currently 38.67%.
A number of research analysts have weighed in on the stock recently. DA Davidson raised its price target on shares of Glacier Bancorp from $65.00 to $68.00 and gave the stock a “buy” rating in a Monday, October 25 research note. Zacks Investment Research cut Glacier Bancorp shares from a “buy” rating to a “hold” rating and set a price target of $68.00 for the company. in a research note from Tuesday, January 11.
A hedge fund recently increased its stake in shares of Glacier Bancorp. Morgan Stanley increased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 101.9% during the second quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 382,837 shares of the bank after buying an additional 193,191 shares during the quarter. Morgan Stanley owned about 0.40% of Glacier Bancorp worth $21,086,000 at the end of the last quarter. 63.36% of the shares are currently held by institutional investors.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company that provides commercial banking services. It operates through the following segments: residential real estate loans, home equity loans and other consumer loans. It offers retail banking, corporate banking, real estate, commercial, agricultural and consumer loans and mortgage loan origination services.
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