Glacier Bancorp (GBCI) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Glacier Bancorp (GBCI) reported revenue of $198.68 million for the quarter ended June 2024, reflecting a year-over-year decline of 1.2% and an EPS of $0.39 compared to $0.50 a year ago [1] Financial Performance Metrics - The reported revenue of $198.68 million was below the Zacks Consensus Estimate of $204.43 million, resulting in a revenue surprise of -2.81% [3] - The company achieved an EPS surprise of +2.63%, with the consensus EPS estimate being $0.38 [3] - Net interest margin (tax-equivalent) stood at 2.7%, matching the average estimate of four analysts [5] - The efficiency ratio was reported at 68%, slightly better than the average estimate of 69.9% [5] - Total earning assets averaged $25.58 billion, below the estimated $26.36 billion [5] - Net charge-offs as a percentage of total loans were 0%, compared to the average estimate of 0.1% [5] - Non-accrual loans totaled $12.69 million, significantly lower than the average estimate of $27.18 million [5] - Total non-performing assets were reported at $18.81 million, compared to the average estimate of $32.47 million [5] - Total non-interest income was $32.20 million, slightly above the estimated $31.84 million [5] - Net interest income was reported at $166.48 million, below the average estimate of $172.42 million [5] - Net interest income (tax-equivalent) was $170.50 million, compared to the estimated $175.09 million [5] - Gain on sale of loans was $4.67 million, compared to the average estimate of $5.04 million [5] Stock Performance - Shares of Glacier Bancorp have returned +22.2% over the past month, outperforming the Zacks S&P 500 composite's +2.1% change [6] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [6]