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Glacier Bancorp
(NYSE:GBCI)
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Rating:71Outperform
Price Target:
$54.00
â–²(14.46% Upside)
Action:Upgraded
Date:10/30/26
Overall score is driven primarily by solid financial performance with improved leverage, reinforced by a strongly positive earnings call (record earnings, expanding NIM outlook, strong deposits and credit). The score is tempered by overbought technical conditions and a valuation that appears fair rather than discounted.
Positive Factors
Net interest margin expansion
Sustained margin expansion demonstrates improving earnings power from the core banking franchise rather than a single-period benefit. Further support comes from asset repricing and reinvestment opportunities, which management expects to keep contributing to margin growth through 2027.
Negative Factors
Deposit-cost pressure
Higher deposit pricing could absorb part of the benefit from loan and securities repricing, limiting future net interest margin expansion. Intensifying competition for funding would also raise the cost of supporting growth and could pressure profitability if asset yields adjust more slowly.
Read all positive and negative factors
Positive Factors
Negative Factors
Net interest margin expansion
Sustained margin expansion demonstrates improving earnings power from the core banking franchise rather than a single-period benefit. Further support comes from asset repricing and reinvestment opportunities, which management expects to keep contributing to margin growth through 2027.
Read all positive factors
Glacier Bancorp (GBCI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.32B
Dividend Yield2.76%
Average Volume (3M)1.20M
Price to Earnings (P/E)18.2
Beta (1Y)0.80
Revenue Growth21.22%
EPS Growth30.61%
CountryUS
Employees4,111
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.67
Shares Outstanding130,218,980
10 Day Avg. Volume1,451,748
30 Day Avg. Volume1,203,616
Financial Highlights & Ratios
PEG Ratio1.16
Price to Book (P/B)1.36
Price to Sales (P/S)4.02
P/FCF Ratio16.47
Enterprise Value/Market Cap1.20
Enterprise Value/Revenue4.76
Enterprise Value/Gross Profit6.30
Enterprise Value/Ebitda12.82
Forecast
1Y Price Target
$59.50Price Target Upside26.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.04
Revenue Forecast (FY)$1.30B
Glacier Bancorp Business Overview & Revenue Model
Company Description
Glacier Bancorp, Inc. operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. It offers re...
How the Company Makes Money
Glacier Bancorp primarily makes money through traditional banking income streams generated by its bank subsidiary. The largest driver is net interest income: the company earns interest and fees on loans and other interest-earning assets (e.g., com...
Glacier Bancorp Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 28, 2027
Earnings Call Sentiment Positive
The call was strongly positive, with record net income, accelerating year-over-year earnings, a net interest margin above 4% for the first time, broad-based deposit growth, disciplined loan growth, excellent credit quality, improved efficiency, and additional asset repricing opportunities. The main cautions were seasonal loan-growth moderation, potential increases in deposit costs, expenses expected near the high end of guidance, economic and geopolitical uncertainty, and a nonrecurring fair value benefit in prior-quarter noninterest income. Highlights significantly outweighed the lowlights.Positive Updates
Record Net Income and Earnings Growth
Third-quarter net income reached a company-record $105 million, exceeding $100 million for the first time. Net income increased 7% from the prior quarter and 54% from the third quarter of last year. Diluted earnings per share were $0.80, up 7% sequentially and 40% year over year, while operating diluted earnings per share were $0.81, up 7% sequentially and 31% year over year.
Negative Updates
Seasonally Slower Period Ahead
Management noted that the company is entering a seasonally slower period, although it remains comfortable with the low to mid-single-digit loan growth outlook.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Net Income and Earnings Growth
Third-quarter net income reached a company-record $105 million, exceeding $100 million for the first time. Net income increased 7% from the prior quarter and 54% from the third quarter of last year. Diluted earnings per share were $0.80, up 7% sequentially and 40% year over year, while operating diluted earnings per share were $0.81, up 7% sequentially and 31% year over year.
Read all positive updates
Company Guidance
Management remains comfortable with its low to mid-single-digit outlook for loan growth; investment cash flows are being reinvested roughly 350 basis points higher than the current runoff yield, approximately $3.5 billion of loans will reprice up 125 to 150 basis points in the next 12 months, and margin is expected to continue expanding throughout ’27. Historically, margin has been 4% to 4.5%, with some things that could lift it towards the higher end of the range, although management cannot put a time frame on reaching 4.5%. Deposit beta is expected to be somewhere in the range of 20% to 25%, with early-cycle beta closer to the lower end. Fourth-quarter expenses are guided to $187 million to $192 million, likely towards the high end, while full-year expenses should remain within $750 million to $760 million, probably closer to $757 million; fourth-quarter efficiency is expected to be 54% to 55%. Securities runoff will likely be reinvested, other fees are expected to have a $40 million run rate, and the tax rate is expected to come in right around 21% for the fourth quarter and right around 21% for the full year.Glacier Bancorp Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.60B | 1.43B | 1.25B | 1.12B | 933.37M | 812.73M |
| Gross Profit | 1.21B | 983.04M | 781.72M | 774.64M | 872.14M | 771.10M |
| EBITDA | 593.39M | 374.82M | 267.97M | 304.75M | 406.77M | 381.48M |
| Net Income | 348.35M | 239.03M | 190.14M | 222.93M | 303.20M | 284.76M |
Balance Sheet | ||||||
| Total Assets | 32.29B | 31.98B | 27.90B | 27.74B | 26.64B | 25.94B |
| Cash, Cash Equivalents and Short-Term Investments | 7.92B | 4.33B | 4.55B | 6.14B | 5.71B | 9.61B |
| Total Debt | 2.21B | 2.90B | 3.79B | 4.44B | 2.96B | 1.20B |
| Total Liabilities | 27.95B | 27.76B | 24.68B | 24.72B | 23.79B | 22.76B |
| Stockholders Equity | 4.34B | 4.21B | 3.22B | 3.02B | 2.84B | 3.18B |
Cash Flow | ||||||
| Free Cash Flow | 291.67M | 347.55M | 209.76M | 451.43M | 436.90M | 562.61M |
| Operating Cash Flow | 332.13M | 374.40M | 258.04M | 500.71M | 470.66M | 572.05M |
| Investing Cash Flow | 909.19M | 1.06B | 493.14M | -207.49M | -1.35B | -3.91B |
| Financing Cash Flow | -1.11B | -1.05B | -1.26B | 659.12M | 845.43M | 3.14B |
Glacier Bancorp Technical Analysis
Positive
47.18
Price Trends
45.09
Positive
47.44
Positive
47.09
Positive
Market Momentum
1.13
Negative
69.17
Neutral
85.75
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GBCI, the sentiment is Positive. The current price of 47.18 is above the 20-day moving average (MA) of 45.09, above the 50-day MA of 45.09, and above the 200-day MA of 47.09, indicating a bullish trend. The MACD of 1.13 indicates Negative momentum. The RSI at 69.17 is Neutral, neither overbought nor oversold. The STOCH value of 85.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GBCI.
Glacier Bancorp Risk Analysis
Glacier Bancorp disclosed 29 risk factors in its most recent earnings report. Glacier Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Glacier Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $8.69B | 10.59 | 11.08% | 4.82% | 22.13% | 29.83% | |
71 Outperform | $6.32B | 18.19 | 8.14% | 2.76% | 21.22% | 30.61% | |
68 Neutral | $1.16B | 14.09 | 7.32% | 3.41% | 21.51% | 20.75% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $3.59B | 11.69 | 9.49% | 4.99% | -8.97% | 35.06% | |
66 Neutral | $2.54B | 11.71 | 10.07% | 2.95% | 1.62% | 7.14% | |
65 Neutral | $2.17B | 8.87 | 8.50% | 3.68% | 0.49% | 21.69% |
* Financial Sector Average
GBCI
Glacier Bancorp
48.56
8.89
22.40%
BANR
Banner
69.21
10.70
18.29%
COLB
Columbia Banking System
30.70
5.21
20.43%
FIBK
First Interstate Bancsystem
37.65
7.98
26.90%
HFWA
Heritage Financial
28.47
7.09
33.14%
WAFD
Washington Federal
29.35
1.23
4.38%
Glacier Bancorp Corporate Events
Business Operations and StrategyStock Buyback
Glacier Bancorp Announces Flexible $200 Million Buyback
Positive
Oct 29, 2026
On October 29, 2026, Glacier Bancorp, Inc. announced that its Board of Directors had approved a new stock repurchase program authorizing the buyback of up to $200 million of the company’s outstanding common stock through December 31, 2027. T...
Business Operations and StrategyExecutive/Board Changes
Glacier Bancorp Appoints Deputy CFO for Leadership Transition
Positive
Aug 31, 2026
On August 27, 2026, Glacier Bancorp’s board appointed longtime treasury executive Byron Pollan as Senior Vice President and Deputy Chief Financial Officer of the company and Glacier Bank, with the role effective September 1, 2026. The move s...
Business Operations and StrategyFinancial Disclosures
Glacier Bancorp Highlights Strategy and Growth Outlook
Positive
Aug 3, 2026
On August 3, 2026, Glacier Bancorp, Inc. reported to investors on its strategy and performance, highlighting its ambition to remain the premier banking franchise in the Mountain West and Southwest by combining local decision-making with big-bank c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.