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Glacier Bancorp (GBCI)

Glacier Bancorp, Inc., a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions: Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d'Alene, ID), North Cascades Bank (Chelan, WA), The Foothills Bank (Yuma, AZ), Valley Bank of Helena (Helena, MT), and Western Security Bank (Billings, MT).

GBCI stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

2 May 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 436.81M 436.81M 436.81M 436.81M 436.81M 436.81M
Cash burn (monthly) 293.67K 36.8M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 900.28K 112.83M n/a n/a n/a n/a
Cash remaining 435.9M 323.98M n/a n/a n/a n/a
Runway (months of cash) 1484.4 8.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Feb 22 Chesler Randall M Common Stock Payment of exercise Dispose F No No 0 4,864 0 87,068
15 Feb 22 Chesler Randall M Common Stock Grant Acquire A No No 54.12 21,660 1.17M 91,932
15 Feb 22 Copher Ron J Common Stock Grant Acquire A No No 54.12 7,429 402.06K 65,719
15 Feb 22 James M English Common Stock Grant Acquire A No No 54.12 370 20.02K 18,917
15 Feb 22 Michael Burke Hormaechea Common Stock Grant Acquire A No No 0 1,417 0 1,767
15 Feb 22 Chery Don J. Common Stock Payment of exercise Dispose F No No 0 1,451 0 42,685
15 Feb 22 Chery Don J. Common Stock Grant Acquire A No No 0 6,490 0 44,136
68.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 322 315 +2.2%
Opened positions 36 49 -26.5%
Closed positions 29 26 +11.5%
Increased positions 115 133 -13.5%
Reduced positions 97 69 +40.6%
13F shares Current Prev Q Change
Total value 3.84B 6.33B -39.4%
Total shares 76.3M 75.99M +0.4%
Total puts 14.1K 2.1K +571.4%
Total calls 49.2K 38.3K +28.5%
Total put/call ratio 0.3 0.1 +422.7%
Largest owners Shares Value Change
BLK Blackrock 13.27M $667.18M -3.0%
Vanguard 10.94M $550.28M +0.9%
STT State Street 4.81M $241.74M +7.8%
ATAC Neuberger Berman 3.82M $192.19M +1.3%
SAMG Silvercrest Asset Management 2.62M $131.74M +35.0%
Dimensional Fund Advisors 2.21M $111.33M +0.9%
Geode Capital Management 1.92M $96.7M -3.6%
TROW T. Rowe Price 1.85M $92.81M -0.1%
NTRS Northern Trust 1.56M $78.65M -2.7%
BK Bank Of New York Mellon 1.55M $78M +0.7%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -735.06K EXIT
SAMG Silvercrest Asset Management 2.62M +678.61K +35.0%
BLK Blackrock 13.27M -409.59K -3.0%
STT State Street 4.81M +346.49K +7.8%
Gillson Capital 259.46K +259.46K NEW
GW&K Investment Management 1.33M -241.52K -15.4%
GS Goldman Sachs 1.15M -206.06K -15.2%
FMR 1.29M +192.58K +17.5%
Schonfeld Strategic Advisors 185.9K +185.9K NEW
Nuveen Asset Management 484.22K -178.96K -27.0%

Financial report summary

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Risks
  • Economic conditions in the market areas the Bank serves may adversely impact its earnings and could increase the credit risk associated with its loan portfolio and the value of its investment portfolio.
  • Competition in the Bank’s market areas may limit future success.
  • We may not be able to continue to grow organically or through acquisitions.
  • Growth through future acquisitions could, in some circumstances, adversely affect profitability or other performance measures.
  • If goodwill recorded in connection with acquisitions becomes impaired, it could have an adverse impact on earnings and capital.
  • There can be no assurance we will be able to continue paying dividends on our common stock at recent levels.
  • The allowance for credit losses may not be adequate to cover actual loan losses, which could adversely affect earnings.
  • The Bank’s loan portfolio mix increases the exposure to credit risks tied to deteriorating conditions.
  • The Bank has a high concentration of loans secured by real estate, so any future deterioration in the real estate markets could require material increases in the ACL and adversely affect our financial condition and results of operations.
  • Non-performing assets could increase, which could adversely affect our results of operations and financial condition.
  • A decline in the fair value of the Bank’s investment portfolio could adversely affect earnings and capital.
  • The Bank is subject to environmental liability risk associated with our lending activities.
  • We face competition from technologies used to support and enable banking and financial services.
  • Fluctuating interest rates can adversely affect profitability.
  • We may be impacted by the retirement of London Interbank Offered Rate (“LIBOR”) as a reference rate.
  • Our business is subject to the risks of earthquakes, floods, fires, and other natural catastrophes.
  • Our future performance will depend on our ability to respond timely to technological change.
  • A failure in or breach of the Bank’s operational or security systems, or those of the Bank’s third party service providers, including as a result of cyber attacks, could disrupt business, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase costs and cause losses.
  • We have various anti-takeover measures that could impede a takeover.
  • We operate in a highly regulated environment and changes or increases in, or supervisory enforcement of, banking or other laws and regulations or governmental fiscal or monetary policies could adversely affect us.
  • National and international economic and geopolitical conditions could adversely affect our future results of operations or market price of our stock.
  • Our business is heavily dependent on the services of members of the senior management team.
  • We could suffer operational, reputational and financial harm if we fail to properly anticipate and manage risk.
  • Changes in accounting standards could materially impact our financial statements.
  • Climate change may materially adversely affect the Company's business and results of operations.
Management Discussion
  • The Company continued to diligently work through the COVID-19 pandemic during the year, meeting both customers’ and employees’ on-going needs. The Company continued providing Small Business Association (“SBA”) Paycheck Protection Program (“PPP”) funding to its customers during the first half of 2021 with a total of $555 million in originated PPP loans. The majority of the PPP loans were forgiven by the end of 2021, with only $169 million remaining as of December 31, 2021. In addition, the credit quality of the loan portfolio has remained strong during the year with our customers showing signs of economic strength. The Company continued to take measures to protect the health and safety of the employees and customers and remained flexible with the ever changing environment.

Content analysis

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Positive
Negative
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Constraining
Legalese
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Readability
H.S. freshman Bad
New words: AFS, beginning, CodificationTM, contract, currency, ease, explicit, facilitation, Interbank, London, Mach, payout, print, recently, recognition, reference, seventeen, step, Subtopic, unjustified, version, vintage
Removed: averaged, Codification, created, declined, Deferment, exceeding, FDIC, half, higher, improvement, inflation, opted, organic, participating, processing, release, retention, sixteen, upfront, Virtually, yielding