Regional banking company Glacier Bancorp (NYSE: GBCI) will be reporting earnings this Thursday after the bell. Here’s what you need to know.
Glacier Bancorp missed analysts’ revenue expectations last quarter, reporting revenues of $319.8 million, up 31.6% year on year. It was a softer quarter for the company, with a significant miss of analysts’ net interest income estimates and EPS in line with analysts’ estimates.
Is Glacier Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Glacier Bancorp’s revenue to grow 26.3% year on year, improving from the 21.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Glacier Bancorp has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Glacier Bancorp’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. QCR Holdings’s revenues decreased 11.7% year on year, missing analysts’ expectations by 8.9%, and Washington Trust Bancorp reported revenues up 15%, topping estimates by 4.1%. Washington Trust Bancorp traded up 4.2% following the results.
Read our full analysis of QCR Holdings’s results here and Washington Trust Bancorp’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the regional banks stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3% on average over the last month. Glacier Bancorp’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $55.33 (compared to the current share price of $44.51).
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