A Business at a Glance
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GLACIER BANCORP, INC.
GBCI
$6.0B
Mkt Cap
$50.27
-0.75%
GLACIER BANCORP, INC. (GBCI) has a current P/E ratio of 25.3, compared to its historical median P/E of 17.3. The stock is currently considered Expensive based on its historical valuation range.
GLACIER BANCORP, INC. (GBCI) has a 5-year average return on invested capital (ROIC) of 7.2%. This is below average and may indicate limited pricing power.
GLACIER BANCORP, INC. (GBCI) has a market capitalization of $6.5B. It is classified as a mid-cap stock.
Yes, GLACIER BANCORP, INC. (GBCI) pays a dividend with a trailing twelve-month yield of 2.49%.
Based on historical P/E analysis, GLACIER BANCORP, INC. (GBCI) appears expensive. The current P/E of 25.3 is 46% above its historical median of 17.3. The estimated fair value CAGR (P/E method) is -4.5%.
GLACIER BANCORP, INC. (GBCI) operates in the State Commercial Banks industry, within the Financials sector.
GLACIER BANCORP, INC. (GBCI) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Glacier Bancorp, Inc. is a Montana-based bank holding company providing a comprehensive range of retail and commercial banking services through 281 locations across nine states (Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, Nevada, and Texas) via its wholly-owned subsidiary Glacier Bank, which operates eighteen distinct bank divisions and a corporate division. The company earns revenue through traditional banking products including retail banking, business banking, real estate and commercial lending, agriculture and consumer loans, and mortgage origination and loan servicing, serving individuals, small to medium-sized businesses, community organizations, and public entities. The business model is built on a decentralized structure where each bank division operates under separate names, management teams, and advisory directors, allowing for localized decision-making while maintaining consolidated operations. The company pursues growth through both internal expansion and selective acquisitions in the Mountain West and Southwest regions, having completed four acquisitions in the past five years totaling over $9.6 billion in assets. Glacier Bank's competitive positioning is supported by its disciplined credit culture, strong capital base, and expanding geographic footprint across diverse economic regions focused on tourism, construction, and mining.
【Margin expansion continuing】 Management expects continued net interest margin growth throughout 2026, with the pace of quarterly increases likely to moderate compared to prior periods as FHLB leverage benefits diminish. The company anticipates loan repricing to remain a durable driver, with approximately $3 billion of loans repricing in the next year at incremental rates of 75–100 basis points, and expects to achieve a 4% loan growth target by the second half of 2026 supported by record-level pipelines. Deposit costs are expected to decline further, and the company plans to be active in purchasing securities in the second half of 2026 to deploy excess cash. Integration of recent acquisitions, particularly Guaranty Bank & Trust's core system conversion in Q1 2026, is expected to generate cost savings that will contribute to operational efficiency improvements, with full-year 2026 core operating expenses guided to $750–$766 million.
| Metric | Target | Period |
|---|---|---|
| Loan growth | 4% | FY2026 (second half) |
| Core operating expenses | $750 million to $766 million | FY2026 |
| Loan repricing volume | $2.5 billion | 2027 |
| Securities cash flow | ~$425 million | Quarterly estimate for 2026 |
Loan growth (FY2026 (second half)): “We do expect to hit 4% at some point later this year, probably second half of 2026.”
Core operating expenses (FY2026): “So, on a full year guide basis, that shapes up to be $700 million, and I'm talking core. I want to make that very clear. But the full year guide would be $750 million to, say, $600 million, excuse me, to $766 million for the full year. Again, that's core operating expense.”
Loan repricing volume (2027): “I think it would be comparable to what we expect in 2026. $2.5 billion somewhere in that neighborhood would likely be repricing in 2027.”
Securities cash flow (Quarterly estimate for 2026): “We're expecting roughly $425 million of cash flow from the securities book every quarter. That's a rough estimate quarterly for 2026.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.1B | 1.4B | 1.3B | 1.1B | 950M | 826M |
| Net Income | 267M | 239M | 190M | 223M | 303M | 285M |
| EPS | $2.14 | $1.99 | $1.68 | $2.01 | $2.74 | $2.86 |
| Free Cash Flow | 375M | 348M | 210M | 451M | 437M | 563M |
| ROIC | 6.2% | 6.4% | 4.2% | 5.2% | 10.0% | 10.4% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.01 | 0.01 | 0.01 | 1.82 | 0.01 | 0.00 |
| Dividends/Share | $1.25 | $1.32 | $1.32 | $1.32 | $1.32 | $1.37 |
| Operating Income | 17M | 18M | 14M | 12M | 370M | 349M |
| Operating Margin | 1.5% | 1.2% | 1.1% | 1.1% | 39.0% | 42.3% |
| ROE | 6.3% | 6.4% | 6.1% | 7.6% | 10.1% | 10.4% |
| Shares Outstanding | 130M | 120M | 113M | 111M | 111M | 100M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 390M | 418M | 451M | 487M | 588M | 677M | 800M | 826M | 950M | 1.1B | 1.3B | 1.4B | 1.1B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 119M | 134M | 152M | 161M | 195M | 223M | 253M | 271M | 319M | 309M | 337M | 393M | 418M |
| EBIT | 10.0M | 8.8M | 8.2M | 10M | 11M | 259M | 328M | 349M | 370M | 12M | 14M | 18M | 17M |
| Op. Margin | 2.6% | 2.1% | 1.8% | 2.1% | 1.9% | 38.3% | 41.0% | 42.3% | 39.0% | 1.1% | 1.1% | 1.2% | 1.5% |
| Net Income | 113M | 116M | 121M | 116M | 182M | 211M | 266M | 285M | 303M | 223M | 190M | 239M | 267M |
| Net Margin | 28.9% | 27.8% | 26.8% | 23.9% | 30.9% | 31.1% | 33.3% | 34.5% | 31.9% | 19.6% | 15.0% | 16.6% | 23.9% |
| Non-Recurring | 0 | 0 | -1.5M | -660K | -1.1M | -686K | -166K | 950K | 3.0M | -160K | 5.1M | -224K | -224K |
| Returns on Capital | |||||||||||||
| ROIC | 11.3% | 11.0% | 11.0% | 10.1% | 13.4% | 12.1% | 12.5% | 10.4% | 10.0% | 5.2% | 4.2% | 6.4% | 6.2% |
| ROE | 11.3% | 11.0% | 11.0% | 10.1% | 13.4% | 12.1% | 12.5% | 10.4% | 10.1% | 7.6% | 6.1% | 6.4% | 6.3% |
| ROA | 1.4% | 1.3% | 1.3% | 1.2% | 1.7% | 1.6% | 1.7% | 1.3% | 1.2% | 0.8% | 0.7% | 0.8% | 0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 183M | 177M | 193M | 255M | 281M | 227M | 190M | 572M | 471M | 501M | 258M | 374M | 410M |
| Free Cash Flow | 168M | 159M | 185M | 245M | 262M | 210M | 178M | 563M | 437M | 451M | 210M | 348M | 375M |
| Owner Earnings | 170M | 161M | 176M | 237M | 262M | 201M | 165M | 546M | 439M | 467M | 223M | 335M | 192M |
| CapEx | 14M | 18M | 8.3M | 10M | 19M | 16M | 12M | 9.4M | 34M | 50M | 48M | 27M | 35M |
| Maint. CapEx | 12M | 14M | 15M | 15M | 16M | 19M | 20M | 22M | 26M | 27M | 29M | 33M | 210M |
| Growth CapEx | 2.3M | 3.9M | 0 | 0 | 2.6M | 0 | 0 | 0 | 7.9M | 22M | 19M | 0 | 0 |
| D&A | 12M | 14M | 15M | 15M | 16M | 19M | 20M | 22M | 26M | 27M | 29M | 33M | 210M |
| CapEx/OCF | 7.9% | 10.6% | 4.3% | 4.0% | 6.6% | 7.2% | 6.2% | 1.6% | 4.9% | 9.9% | 18.7% | 7.2% | 8.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 51M | 79M | 84M | 112M | 85M | 124M | 131M | 146M | 158M | 147M | 150M | 163M | 163M |
| Dividend Yield | 3.7% | 5.6% | 5.4% | 5.3% | 3.1% | 4.2% | 4.3% | 3.1% | 3.1% | 4.0% | 3.2% | 3.1% | 2.5% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 859K | 1.7M | 1.8M | 3.0M | 3.1M | 7.5M | 3.6M | 4.3M | 5.4M | 5.9M | 5.7M | 6.3M | 8.3M |
| Debt Repayment | 0 | 0 | 100M | 137M | 85M | 255M | 30M | 0 | 0 | 0 | 2.7B | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -2.5B | -2.7B | -1.8B | -2.7B | -3.2B | -6.0B | -427M | -374M | 4.1B | -827M | -1.2B | -1.4B |
| Cash & Equiv. | 442M | 193M | 153M | 200M | 204M | 331M | 633M | 438M | 402M | 1.4B | 848M | 1.2B | 1.4B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | 5.5M | 5.8M | 5.7M | 24M | 2.7B | 17M | 24M | 26M |
| Debt/Equity | 7.08 | 0.24 | -0.09 | 0.11 | 0.06 | -0.13 | -0.01 | 0.00 | 0.01 | 1.82 | 0.01 | 0.01 | 0.01 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 14.0 |
| Equity | 1.0B | 1.1B | 1.1B | 1.2B | 1.5B | 2.0B | 2.3B | 3.2B | 2.8B | 3.0B | 3.2B | 4.2B | 4.2B |
| Total Assets | 8.3B | 9.1B | 9.5B | 9.7B | 12.1B | 13.7B | 18.5B | 25.9B | 26.6B | 27.7B | 27.9B | 32.0B | 31.7B |
| Total Liabilities | 7.3B | 8.0B | 8.3B | 8.5B | 10.6B | 11.7B | 16.2B | 22.8B | 23.8B | 24.7B | 24.7B | 27.8B | 27.5B |
| Intangibles | 11M | 15M | 12M | 14M | 49M | 63M | 56M | 52M | 42M | 32M | 51M | 105M | 100M |
| Retained Earnings | 301M | 338M | 374M | 402M | 473M | 541M | 668M | 810M | 967M | 1.0B | 1.1B | 1.2B | 1.2B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.51 | 1.54 | 1.59 | 1.50 | 2.17 | 2.38 | 2.81 | 2.86 | 2.74 | 2.01 | 1.68 | 1.99 | 2.14 |
| Owner EPS | 2.27 | 2.13 | 2.31 | 3.06 | 3.12 | 2.27 | 1.75 | 5.48 | 3.97 | 4.21 | 1.97 | 2.79 | 1.47 |
| Book Value | 13.77 | 14.28 | 14.66 | 15.45 | 18.09 | 22.16 | 24.33 | 31.91 | 25.69 | 27.23 | 28.48 | 35.08 | 32.65 |
| Cash Flow/Share | 2.45 | 2.34 | 2.53 | 3.28 | 3.35 | 2.56 | 2.00 | 5.75 | 4.25 | 4.51 | 2.28 | 3.12 | 3.66 |
| Dividends/Share | 0.98 | 1.05 | 1.10 | 1.14 | 1.31 | 1.31 | 1.33 | 1.37 | 1.32 | 1.32 | 1.32 | 1.32 | 1.25 |
| Shares Out. | 74.7M | 75.4M | 76.2M | 77.6M | 83.8M | 88.5M | 94.8M | 99.6M | 110.7M | 110.9M | 113.2M | 120.1M | 130.1M |
| Valuation | |||||||||||||
| P/E Ratio | 12.6 | 12.7 | 17.1 | 20.6 | 14.4 | 15.9 | 14.2 | 17.5 | 16.2 | 19.9 | 29.0 | 22.9 | 23.5 |
| P/FCF | 8.4 | 9.3 | 11.2 | 9.8 | 10.0 | 16.0 | 21.2 | 8.9 | 11.2 | 9.8 | 26.3 | 15.7 | 17.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.4 | N/A | N/A | N/A | 307.3 |
| Price/Book | 1.4 | 1.4 | 1.9 | 2.0 | 1.7 | 1.7 | 1.6 | 1.6 | 1.7 | 1.5 | 1.7 | 1.3 | 1.5 |
| Price/Sales | 3.8 | 3.7 | 3.7 | 4.6 | 4.9 | 4.7 | 3.9 | 5.9 | 5.6 | 4.5 | 5.6 | 5.2 | 5.9 |
| FCF Yield | 11.9% | 10.8% | 8.9% | 10.2% | 10.0% | 6.3% | 4.7% | 11.3% | 8.9% | 10.2% | 3.8% | 6.4% | 5.7% |
| Market Cap | 1.4B | 1.5B | 2.1B | 2.4B | 2.6B | 3.4B | 3.8B | 5.0B | 4.9B | 4.4B | 5.5B | 5.5B | 6.5B |
| Avg. Price | 18.59 | 18.98 | 20.32 | 27.13 | 32.42 | 33.69 | 31.87 | 47.92 | 45.83 | 33.03 | 40.87 | 44.28 | 50.27 |
| Year-End Price | 19.00 | 19.53 | 27.15 | 30.85 | 31.28 | 37.93 | 39.82 | 50.02 | 44.25 | 39.97 | 48.79 | 45.52 | 50.27 |
GLACIER BANCORP, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
GLACIER BANCORP, INC. trades at 25.3x trailing earnings, compared to its 15-year median P/E of 17.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 18.8x vs a median of 11.2x. The company's 5-year average ROIC is 7.2%. Total shareholder yield (dividends) is 2.5%. At current prices, the estimated annualized return to fair value is +2.0%.
GLACIER BANCORP, INC. (GBCI) has a net profit margin of 16.6%. This is a healthy margin.
GLACIER BANCORP, INC. (GBCI) generated $348 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
GLACIER BANCORP, INC. (GBCI) has a debt-to-equity ratio of 0.01. This indicates a conservatively financed balance sheet.
GLACIER BANCORP, INC. (GBCI) reported earnings per share (EPS) of $1.99 in its most recent fiscal year.
GLACIER BANCORP, INC. (GBCI) has a return on equity (ROE) of 6.4%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for GLACIER BANCORP, INC. (GBCI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
GLACIER BANCORP, INC. (GBCI) has a book value per share of $35.08, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued net interest margin growth throughout 2026, with the pace of quarterly increases likely to moderate compared to prior periods as FHLB leverage benefits diminish. The company anticipates loan repricing to remain a durable driver, with approximately $3 billion of loans repricing in the next year at incremental rates of 75–100 basis points, and expects to achieve a 4% loan growth target by the second half of 2026 supported by record-level pipelines. Deposit costs are expected to decline further, and the company plans to be active in purchasing securities in the second half of 2026 to deploy excess cash. Integration of recent acquisitions, particularly Guaranty Bank & Trust's core system conversion in Q1 2026, is expected to generate cost savings that will contribute to operational efficiency improvements, with full-year 2026 core operating expenses guided to $750–$766 million.
Based on recent SEC filings and earnings calls, GLACIER BANCORP, INC. (GBCI) has provided the following forward guidance: Loan growth: 4% (FY2026 (second half)); Core operating expenses: $750 million to $766 million (FY2026); Loan repricing volume: $2.5 billion (2027); Securities cash flow: ~$425 million (Quarterly estimate for 2026).
No recent press releases.