Home Glaciers DA Davidson Comments on Glacier Bancorp, Inc.’s Third Quarter 2022 Results (NASDAQ:GBCI)

DA Davidson Comments on Glacier Bancorp, Inc.’s Third Quarter 2022 Results (NASDAQ:GBCI)


Glacier Bancorp, Inc. (NASDAQ: GBCIGet a rating) – Equity researchers at DA Davidson released their third quarter 2022 earnings per share (EPS) estimates for Glacier Bancorp in a research report delivered to clients and investors on Monday, July 25. DA Davidson analyst J. Rulis expects the bank to post earnings per share of $0.74 for the quarter. The consensus estimate of Glacier Bancorp’s current annual earnings is $2.80 per share.

Several other analysts have also recently commented on the company. StockNews.com upgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, May 28. Truist Financial cut its price target on Glacier Bancorp from $54.00 to $53.00 in a Wednesday, June 15 report.

Glacier Bancorp stock performance

Shares of Glacier Bancorp stock opened at $48.73 on Tuesday. The stock has a market capitalization of $5.40 billion, a PE ratio of 19.11 and a beta of 0.83. The company has a fifty-day simple moving average of $47.64 and a 200-day simple moving average of $50.06. 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 12-month low of $44.43 and a 12-month high of $60.69.

Bancorp Glacier (NASDAQ: GBCIGet a rating) last reported results on Thursday, July 21. The bank reported EPS of $0.69 for the quarter, reaching the consensus estimate of $0.69. The company posted revenue of $221.72 million in the quarter, compared to $225.85 million expected by analysts. Glacier Bancorp had a return on equity of 9.50% and a net margin of 30.72%. In the same quarter last year, the company posted earnings per share of $0.81.

Glacier Bancorp Institutional Negotiation

Several hedge funds and other institutional investors have recently changed their holdings in GBCI. Mirae Asset Global Investments Co. Ltd. bought a new position in Glacier Bancorp during the second quarter, valued at approximately $1,538,000. Nicholas Company Inc. increased its stake in Glacier Bancorp by 14.1% during the second quarter. Nicholas Company Inc. now owns 116,720 shares of the bank valued at $5,535,000 after purchasing an additional 14,425 shares last quarter. OLD National Bancorp IN bought a new position in Glacier Bancorp during the second quarter worth approximately $251,000. Strs Ohio increased its holdings in Glacier Bancorp by 2.1% during the second quarter. Strs Ohio now owns 14,700 shares of the bank valued at $697,000 after buying 300 more shares last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Glacier Bancorp by 3.3% during the second quarter. Stratos Wealth Partners LTD. now owns 37,142 shares of the bank valued at $1,761,000 after purchasing an additional 1,189 shares last quarter. 68.64% of the shares are currently held by hedge funds and other institutional investors.

Glacier Bancorp increases its dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 21. Investors of record on Tuesday, July 12 received a dividend of $0.33 per share. This represents an annualized dividend of $1.32 and a dividend yield of 2.71%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, July 11. Glacier Bancorp’s dividend payout ratio (DPR) is currently 51.76%.

About Glacier Bancorp

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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.

See also

History and Earnings Estimates for Glacier Bancorp (NASDAQ:GBCI)

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