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
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.57
Q3 Net Income
$67.90 mln
Q3 Net Interest Income
$225 mln
Q3 Net Interest Margin
3.39%
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
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(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.)