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GBCI — Glacier Bancorp News Story

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Glacier Bancorp's Q3 profit rises 29% on higher interest income

Overview

Glacier Bancorp Q3 net income rises 29% from prior quarter to $67.9 mln

Diluted EPS for Q3 increases 27% from prior quarter to $0.57

Net interest income for Q3 grows 9% from prior quarter to $225 mln

Outlook

Company did not provide specific guidance for future quarters or full year

Result Drivers

NET INTEREST INCOME - Driven by increased loan yields and higher average loan balances, contributing to a 9% increase from the prior quarter

ACQUISITIONS - Completion of BOID core system conversion and Guaranty Bank acquisition expanded operations and contributed to growth

NET INTEREST MARGIN - Improved by 18 basis points due to higher loan yields and reduced funding costs, enhancing profitability

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 EPS$0.57
Q3 Net Income$67.90 mln
Q3 Net Interest Income$225 mln
Q3 Net Interest Margin3.39%
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell" The average consensus recommendation for the banks peer group is "buy" Wall Street's median 12-month price target for Glacier Bancorp Inc is $51.50, about 6.8% above its October 15 closing price of $48.02 The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago Press Release: ID:nGNX95SsvY For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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