Glacier Bancorp (GBCI)
Market Price (7/13/2026): $51.49 | Market Cap: $6.7 BilSector: Financials | Industry: Regional Banks
Glacier Bancorp (GBCI)
Market Price (7/13/2026): $51.49Market Cap: $6.7 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, Dividend Yield is 2.4%, FCF Yield is 5.6% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -72% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 30% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35% Low stock price volatilityVol 12M is 30% Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 14% Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 27% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. | Trading close to highsDist 52W High is -1.9% | Key risksGBCI key risks include [1] heightened credit risk from its notable concentration in commercial and real estate development loans and [2] challenges successfully integrating the strategic acquisitions central to its growth strategy. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, Dividend Yield is 2.4%, FCF Yield is 5.6% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -72% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 30% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35% |
| Low stock price volatilityVol 12M is 30% |
| Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 14% |
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 27% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Trading close to highsDist 52W High is -1.9% |
| Key risksGBCI key risks include [1] heightened credit risk from its notable concentration in commercial and real estate development loans and [2] challenges successfully integrating the strategic acquisitions central to its growth strategy. |
Qualitative Assessment
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Glacier Bancorp (GBCI) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Beat and Net Interest Margin Expansion. Glacier Bancorp announced robust financial results for its fiscal Q1 2026, which ended March 31, 2026, reporting net income of $82.1 million, representing a 29% increase from the prior quarter and a 51% increase year-over-year. The company's operating diluted earnings per share (EPS) of $0.70 surpassed analyst forecasts of $0.65 by 7.69%. Furthermore, the net interest margin (NIM) expanded to 3.80%, an increase of 22 basis points from the prior quarter. This strong performance, particularly the operating EPS beat, led to the stock closing up 1.92% on the day of the earnings release, despite a slight revenue miss, as investors focused on underlying operational strength.
2. Resilient Asset Quality and Loan Portfolio Growth. The company demonstrated stable credit quality during fiscal Q1 2026, with non-performing assets remaining near historic lows. This, combined with a modest increase in loan balances, which grew at a 2% annualized rate to $21 billion, underscored the bank's sound operational management and healthy asset base.
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Glacier Bancorp (GBCI) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Beat and Net Interest Margin Expansion. Glacier Bancorp announced robust financial results for its fiscal Q1 2026, which ended March 31, 2026, reporting net income of $82.1 million, representing a 29% increase from the prior quarter and a 51% increase year-over-year. The company's operating diluted earnings per share (EPS) of $0.70 surpassed analyst forecasts of $0.65 by 7.69%. Furthermore, the net interest margin (NIM) expanded to 3.80%, an increase of 22 basis points from the prior quarter. This strong performance, particularly the operating EPS beat, led to the stock closing up 1.92% on the day of the earnings release, despite a slight revenue miss, as investors focused on underlying operational strength.
2. Resilient Asset Quality and Loan Portfolio Growth. The company demonstrated stable credit quality during fiscal Q1 2026, with non-performing assets remaining near historic lows. This, combined with a modest increase in loan balances, which grew at a 2% annualized rate to $21 billion, underscored the bank's sound operational management and healthy asset base.
3. Favorable Regional Banking Sector Outlook in a "Higher for Longer" Rate Environment. The broader regional banking sector, including Glacier Bancorp, benefited from the market's expectation of sustained higher interest rates, with the Federal Reserve holding rates and hinting at possible future hikes. Glacier Bancorp, with its substantial mix of low-cost deposits and a lending portfolio sensitive to net interest margins, was perceived as well-positioned to capitalize on these conditions. S&P Global Ratings also projected a positive outlook for North American banks in the coming year, citing solid earnings, healthy balance sheets, and modest growth in provisions for credit losses in 2026 and 2027.
4. Consistent Shareholder Returns through Dividends. Glacier Bancorp reinforced investor confidence by declaring a quarterly dividend of $0.33 per share on June 23, 2026. This marked the company's 165th consecutive quarterly dividend, highlighting its consistent commitment to returning value to shareholders and signaling financial stability.
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Stock Movement Drivers
Fundamental Drivers
The 16.8% change in GBCI stock from 3/31/2026 to 7/12/2026 was primarily driven by a 8.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312026 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.07 | 51.49 | 16.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,004 | 1,087 | 8.2% |
| Net Income Margin (%) | 23.8% | 24.5% | 3.1% |
| P/E Multiple | 24.0 | 25.1 | 4.7% |
| Shares Outstanding (Mil) | 130 | 130 | 0.0% |
| Cumulative Contribution | 16.8% |
Market Drivers
3/31/2026 to 7/12/2026| Return | Correlation | |
|---|---|---|
| GBCI | 16.8% | |
| Market (SPY) | 16.1% | 28.0% |
| Sector (XLF) | 12.8% | 56.4% |
Fundamental Drivers
The 18.5% change in GBCI stock from 12/31/2025 to 7/12/2026 was primarily driven by a 17.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 12312025 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.46 | 51.49 | 18.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 922 | 1,087 | 17.9% |
| Net Income Margin (%) | 25.7% | 24.5% | -4.6% |
| P/E Multiple | 21.7 | 25.1 | 15.5% |
| Shares Outstanding (Mil) | 119 | 130 | -8.8% |
| Cumulative Contribution | 18.5% |
Market Drivers
12/31/2025 to 7/12/2026| Return | Correlation | |
|---|---|---|
| GBCI | 18.5% | |
| Market (SPY) | 11.0% | 39.0% |
| Sector (XLF) | 2.2% | 63.4% |
Fundamental Drivers
The 23.8% change in GBCI stock from 6/30/2025 to 7/12/2026 was primarily driven by a 30.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302025 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.59 | 51.49 | 23.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 836 | 1,087 | 30.0% |
| Net Income Margin (%) | 25.4% | 24.5% | -3.3% |
| P/E Multiple | 22.2 | 25.1 | 12.9% |
| Shares Outstanding (Mil) | 113 | 130 | -12.8% |
| Cumulative Contribution | 23.8% |
Market Drivers
6/30/2025 to 7/12/2026| Return | Correlation | |
|---|---|---|
| GBCI | 23.8% | |
| Market (SPY) | 23.2% | 39.4% |
| Sector (XLF) | 7.7% | 62.7% |
Fundamental Drivers
The 83.7% change in GBCI stock from 6/30/2023 to 7/12/2026 was primarily driven by a 139.8% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.03 | 51.49 | 83.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 886 | 1,087 | 22.7% |
| Net Income Margin (%) | 33.5% | 24.5% | -26.7% |
| P/E Multiple | 10.5 | 25.1 | 139.8% |
| Shares Outstanding (Mil) | 111 | 130 | -14.8% |
| Cumulative Contribution | 83.7% |
Market Drivers
6/30/2023 to 7/12/2026| Return | Correlation | |
|---|---|---|
| GBCI | 83.7% | |
| Market (SPY) | 76.3% | 47.6% |
| Sector (XLF) | 72.7% | 63.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GBCI Return | 26% | -10% | -13% | 25% | -10% | 18% | 32% |
| Peers Return | 42% | -9% | 14% | 12% | 8% | 11% | 97% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| GBCI Win Rate | 67% | 50% | 50% | 50% | 50% | 57% | |
| Peers Win Rate | 70% | 47% | 53% | 48% | 52% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| GBCI Max Drawdown | -24% | -25% | -45% | -16% | -27% | -20% | |
| Peers Max Drawdown | -21% | -30% | -42% | -18% | -26% | -18% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HOMB, UBSI, OZK, ABCB, WAL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/10/2026 (YTD)
How Low Can It Go
| Event | GBCI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.8% | -18.8% |
| % Gain to Breakeven | 31.2% | 23.1% |
| Time to Breakeven | 149 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.5% | -9.5% |
| % Gain to Breakeven | 18.4% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -41.9% | -6.7% |
| % Gain to Breakeven | 72.0% | 7.1% |
| Time to Breakeven | 439 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -21.1% | -24.5% |
| % Gain to Breakeven | 26.7% | 32.4% |
| Time to Breakeven | 170 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -38.4% | -33.7% |
| % Gain to Breakeven | 62.3% | 50.9% |
| Time to Breakeven | 76 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -14.6% | -19.2% |
| % Gain to Breakeven | 17.1% | 23.8% |
| Time to Breakeven | 24 days | 105 days |
In The Past
Glacier Bancorp's stock fell -23.8% during the 2025 US Tariff Shock. Such a loss loss requires a 31.2% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | GBCI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.8% | -18.8% |
| % Gain to Breakeven | 31.2% | 23.1% |
| Time to Breakeven | 149 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -41.9% | -6.7% |
| % Gain to Breakeven | 72.0% | 7.1% |
| Time to Breakeven | 439 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -21.1% | -24.5% |
| % Gain to Breakeven | 26.7% | 32.4% |
| Time to Breakeven | 170 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -38.4% | -33.7% |
| % Gain to Breakeven | 62.3% | 50.9% |
| Time to Breakeven | 76 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -30.7% | -17.9% |
| % Gain to Breakeven | 44.3% | 21.8% |
| Time to Breakeven | 98 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.2% | -15.4% |
| % Gain to Breakeven | 25.3% | 18.2% |
| Time to Breakeven | 952 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -37.7% | -53.4% |
| % Gain to Breakeven | 60.4% | 114.4% |
| Time to Breakeven | 410 days | 1085 days |
In The Past
Glacier Bancorp's stock fell -23.8% during the 2025 US Tariff Shock. Such a loss loss requires a 31.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Glacier Bancorp (GBCI)
Glacier Bancorp, Inc. (GBCI) is a bank holding company that operates Glacier Bank, providing a comprehensive range of commercial banking services. The company's primary focus is on serving individuals, small to medium-sized businesses, community organizations, and public entities. Essentially, it functions as a regional community bank offering fundamental financial solutions tailored to its diverse customer base.
The company's main products and services encompass both deposit accounts and various lending options. For deposits, it offers non-interest bearing and interest bearing accounts, including checking, savings, money market, certificates of deposit (CDs), and individual retirement accounts. On the lending side, Glacier Bancorp provides an extensive portfolio, which includes construction and permanent residential real estate loans, commercial real estate loans, consumer land acquisition loans, and a variety of consumer loans secured by real estate or other assets. It also supports agricultural businesses with loans and offers mortgage origination and loan servicing services.
Glacier Bancorp operates through a significant network of 224 locations, consisting of 188 branches and 36 loan or administration offices. These operations are strategically spread across 75 counties within eight Western U.S. states: Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada. This broad geographic footprint allows it to serve a substantial regional market.
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Here are 1-3 brief analogies for Glacier Bancorp (GBCI):
The Bank of America for the Mountain West region.
A multi-state community bank, much like PNC Bank for its core markets.
U.S. Bank for the Intermountain West.
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Glacier Bancorp (GBCI) provides the following major products and services:
- Deposit Accounts: Offers various non-interest and interest-bearing accounts, including checking, savings, money market, certificates of deposit, and IRAs, for individuals and businesses.
- Real Estate Loans: Provides financing for residential construction and permanent mortgages, land acquisition and development, and commercial real estate properties.
- Consumer Loans: Offers loans secured by real estate, automobiles, or other assets, including home equity loans and lines of credit.
- Agriculture Loans: Provides specialized financial services and loans tailored for agricultural businesses.
- Mortgage Services: Includes comprehensive mortgage origination and ongoing loan servicing for residential properties.
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Glacier Bancorp (GBCI) serves a diverse customer base, providing commercial banking services to a range of clients rather than a few major named companies. Its major customers can be categorized as:
- Individuals: This includes customers utilizing services such as non-interest bearing and interest bearing deposit accounts, residential real estate loans, consumer land or lot acquisition loans, consumer loans secured by various assets, home equity loans, and individual retirement accounts.
- Small to Medium-sized Businesses: These customers engage with the bank for commercial real estate loans, unimproved land and land development loans, residential builder guidance lines, paycheck protection program loans, and agriculture loans.
- Community Organizations and Public Entities: These groups utilize the bank's commercial banking services, including various deposit accounts and financing solutions tailored to their needs.
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Randall M. Chesler, President and CEO
Randall Chesler currently serves as President and CEO of Glacier Bancorp, Inc. and Glacier Bank. Before joining Glacier Bank, Mr. Chesler was President of CIT Bank, where he also led the Small Business Lending and Consumer Finance groups. He has extensive financial services experience from his time with Citi, VISA, and US BankCard. In 2000, he founded Size Technologies, a fintech company that was subsequently purchased by First Data Corp. Mr. Chesler also serves on the Altabank Division Board and the First Community Bank of Utah Division Board. He was appointed CEO in January 2017.
Ron J. Copher, Executive Vice President and CFO
Ron J. Copher is the Executive Vice President and CFO of Glacier Bancorp, Inc. He plans to retire from his role after 20 years with the company. Mr. Copher will continue to serve as CFO until his successor is appointed and will then serve in an advisory role to ensure a smooth transition. During his tenure, he contributed to the company's strong financial performance through disciplined organic growth and strategic acquisitions.
Ryan Screnar, Executive Vice President and Chief Administrative Officer
Ryan Screnar is the Executive Vice President and Chief Administrative Officer, a role he is set to assume in February 2025, succeeding Don Chery. He joined Glacier Bank in 2000 and brings extensive experience in compliance and audit functions. He was appointed Executive Vice President and Chief Compliance Officer effective October 30, 2024.
Lee Groom, Executive Vice President and Chief Experience Officer
Lee Groom was promoted to Executive Vice President and Chief Experience Officer in October 2024, a role that includes overseeing the bank's information technology function. He has been with Glacier Bank since 2018 and has previous experience with notable financial institutions such as HSBC and First Interstate Bank.
Craig A. Langel, Chairman of the Board
Craig A. Langel serves as the Chairman of the Board for Glacier Bancorp, Inc. He is the owner and President of CLC Restaurants, Inc., which operates Taco Bell and KFC restaurants in Montana, Idaho, and Washington. Previously, Mr. Langel was an officer and shareholder of Langel & Associates, P.C. He also serves on the board of directors for the Taco Bell Foundation and the Missoula Children's Theatre, and formerly served on the First Security Bank of Missoula Division Board.
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The key risks to Glacier Bancorp's business include its exposure to credit risk, particularly within commercial real estate, interest rate volatility impacting net interest margin, and intense competition, including from financial technology (fintech) companies and the risk of deposit outflows.
- Credit Risk and Commercial Real Estate Exposure: Glacier Bancorp, like other regional banks, faces significant exposure to credit risk, especially in its commercial and real estate lending portfolio. Concerns regarding the deterioration of asset quality and increasing loan defaults during economic slowdowns are prominent. Recent reports indicate investor scrutiny over the sector's exposure to credit risks and the opaque private credit market, with Glacier Bancorp's own Q4 2025 results showing higher net charge-offs.
- Interest Rate Risk and Net Interest Margin Pressure: The profitability of Glacier Bancorp is highly sensitive to fluctuations in interest rates, which directly affect its net interest margin (the difference between interest earned on loans and interest paid on deposits). While rising interest rates can benefit net interest margins, a volatile rate environment or unfavorable rate movements can negatively impact net interest income, which constitutes a significant portion of the company's total revenue. The company's recent performance has shown softer net interest income growth compared to the broader banking industry.
- Competition and Deposit Outflows: Glacier Bancorp operates in a competitive financial services landscape, facing challenges from other financial institutions and rapidly evolving fintech companies. This competition, coupled with the potential for deposit outflows to higher-yielding alternatives, can impact the bank's ability to attract and retain customers and funding. Regulatory compliance costs further add to the operational challenges in this competitive environment.
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The clear emerging threat is the proliferation of digital-first banks (neobanks, challenger banks) and non-bank fintech lenders. These entities leverage advanced technology and operate with significantly lower overheads due to their lack of a physical branch network. They offer streamlined, often faster, and competitive banking products—including deposits, consumer loans, and small business loans—through entirely online and mobile platforms. This model directly challenges traditional branch-based banks like Glacier Bancorp by potentially eroding their deposit base and market share in various lending segments as customer preferences shift towards digital convenience and efficiency.
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Glacier Bancorp (symbol: GBCI) operates in several key segments within the commercial banking sector across eight Western states. While precise addressable market sizes for all its specific products within each of its operating states are not consolidated in available public data, the following provides an overview of the market sizes for its main products and services at the U.S. national level, with some regional and state-specific data where available.
Commercial Banking Services and Deposits
- The U.S. commercial banking market was valued at approximately USD 229 billion in 2023 and is projected to reach USD 339 billion by 2032, with a compound annual growth rate (CAGR) of 5% from 2024 to 2032. Another estimate placed the U.S. commercial banking market size at USD 222.5 billion in 2023, expected to exceed USD 320.5 billion by 2033.
- For deposits, banks with a physical presence in Montana held an estimated $35.5 billion in deposits in 2024. The broader U.S. retail banking market, which encompasses deposits, generated revenues of USD 454.3 billion in 2024 and is anticipated to reach USD 678.3 billion by 2033.
Residential Real Estate Loans and Mortgage Origination
- The U.S. residential real estate market is projected to be $12.00 trillion in 2025, growing to $12.24 trillion in 2026.
- Total U.S. mortgage balances amounted to $12.25 trillion at the end of 2023. The mortgage origination volume for single-family homes in the U.S. reached $246 billion in Q1 2025. The U.S. home mortgage market size, referring to origination volume, was about USD 180.91 billion in 2023 and is projected to grow to approximately USD 501.67 billion by 2032.
- In Montana, new home loans booked in 2024 totaled $2.9 billion. The Real Estate Loans & Collateralized Debt industry in Utah experienced an average annual growth rate of 15.0% from 2020 to 2025.
Commercial Real Estate Loans
- The global real estate loan market, which includes commercial real estate, was valued at $11.05 trillion in 2024 and is expected to grow to $17.54 trillion by 2028.
- The North American commercial lending market, a component of which is commercial real estate, is projected to reach a valuation of USD 2,892.50 billion by 2025. The U.S. commercial real estate (CRE) industry revenue gained at a CAGR of 1.7% to reach $1.5 trillion through the end of 2025. Approximately $936 billion in commercial mortgages are expected to mature in 2026 across the U.S., which will drive refinancing activity.
Consumer Loans
- The global consumer finance market was valued at USD 1,276.6 billion in 2023 and is expected to reach USD 2,534.8 billion by 2033. North America accounted for 37% of this market in 2023, with secured consumer finance products, including housing and auto loans, leading the market with 58% in 2023.
- The broader U.S. loan market, encompassing consumer, mortgage, and business loans, was valued at USD 1123.45 billion in 2024 and is projected to reach USD 1872.45 billion by 2030. The alternative lending market in the United States, which includes personal loans, auto loans, and home improvement loans, is anticipated to grow to US$71.62 billion by 2026.
Agriculture Loans
- The U.S. banking industry held $205 billion in farm loans by the end of 2024. Farm loans secured by real estate in the U.S. exceeded $353 billion in 2023, with projections to increase to nearly $360 billion in 2024.
- In Montana, banks had $1.44 billion in outstanding small farm loans in 2023.
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Share Repurchases
- Glacier Bancorp made no stock repurchases during 2025.
- As of December 9, 2025, the company's buyback yield was -5.91%.
Share Issuance
- In connection with the acquisition of Guaranty Bancshares, Inc., Glacier Bancorp expected to issue approximately 11.3 million common shares to Guaranty shareholders, representing about 8.73% of Glacier's outstanding common stock after the merger, which was anticipated to close in Q4 2025.
- Glacier Bancorp completed the acquisition of Bank of Idaho Holding Co. on April 30, 2025, issuing shares valued at $205.0 million.
- For the acquisition of Altabancorp in 2021, AB shareholders received approximately 15,205,405 shares of Glacier common stock, which was about 13.7% of Glacier's outstanding common stock post-merger.
Outbound Investments
- Glacier Bancorp announced the acquisition of Guaranty Bancshares, Inc. in June 2025 for $476.2 million in an all-stock transaction, marking its entry into the Texas market.
- The company completed the acquisition of Bank of Idaho Holding Co. with a total merger consideration valued at approximately $245.4 million, which closed on April 30, 2025.
- Glacier Bancorp finalized the acquisition of Altabancorp in the fourth quarter of 2021, which added approximately $3 billion in assets and around 25 branches in Utah.
Capital Expenditures
- Glacier Bancorp is allocating capital to tech and data modernization in 2025 to support expansion and digital banking growth, including projects like a centralized data lake, risk dashboards, real-time payments, and AI pilots for underwriting.
- Investments through 2024–2025 are focused on streamlined digital onboarding to enhance conversion rates for consumers and small to medium-sized enterprises (SMEs).
- The company plans ongoing branch rationalization and format refreshes through 2025 to improve network efficiency.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 51.08 |
| Mkt Cap | 6.3 |
| Rev LTM | 1,232 |
| Op Inc LTM | - |
| FCF LTM | 456 |
| FCF 3Y Avg | 394 |
| CFO LTM | 482 |
| CFO 3Y Avg | 419 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.6% |
| Rev Chg 3Y Avg | 7.3% |
| Rev Chg Q | 9.9% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 41.4% |
| CFO/Rev 3Y Avg | 41.8% |
| FCF/Rev LTM | 38.9% |
| FCF/Rev 3Y Avg | 37.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Banking segment | 1,004 | 810 | 789 | 892 | 794 |
| Total | 1,004 | 810 | 789 | 892 | 794 |
| $ Mil | 2004 | 2003 |
|---|---|---|
| First Security | 17 | 15 |
| Glacier | 17 | 16 |
| Mountain West | 12 | 8 |
| Western | 10 | 9 |
| Big Sky | 6 | 5 |
| Valley | 5 | 5 |
| Whitefish | 4 | 3 |
| Total | 71 | 61 |
| $ Mil | 2011 | 2010 |
|---|---|---|
| Parent | 17 | 43 |
| Glacier | 14 | 13 |
| First Security | 12 | 10 |
| Western | 10 | 9 |
| Valley | 7 | 6 |
| First Bank of MT | 4 | 3 |
| Citizens | 4 | 3 |
| Big Sky | 4 | 3 |
| First Bank of WY | 3 | |
| San Juans | 1 | 2 |
| GORE | -3 | -1 |
| 1st Bank | -10 | 7 |
| Eliminations | -20 | -45 |
| Mountain West | -25 | -12 |
| First National | 2 | |
| Total | 17 | 42 |
| $ Mil | 2011 | 2010 | 2009 | 2007 | 2005 |
|---|---|---|---|---|---|
| Glacier | 1,377 | 1,374 | 1,325 | 903 | 731 |
| Mountain West | 1,131 | 1,165 | 1,172 | 1,038 | 780 |
| First Security | 1,102 | 1,005 | 891 | 793 | 769 |
| Parent | 991 | 979 | 833 | ||
| Western | 809 | 766 | 624 | 509 | 432 |
| 1st Bank | 786 | 394 | 650 | 456 | |
| Valley | 462 | 717 | 351 | 283 | 254 |
| First Bank of WY | 391 | ||||
| Big Sky | 385 | 362 | 369 | 316 | 267 |
| Citizens | 362 | 290 | 242 | 183 | 144 |
| First Bank of MT | 266 | 240 | 217 | 149 | |
| San Juans | 244 | 230 | 185 | ||
| GORE | 7 | 21 | |||
| Eliminations | -1,124 | -1,135 | -963 | ||
| First National | 352 | 296 | |||
| Morgan | 95 | ||||
| Whitefish | 198 | 174 | |||
| Total | 7,188 | 6,759 | 6,192 | 4,923 | 3,552 |
Price Behavior
| Market Price | $51.49 | |
| Market Cap ($ Bil) | 6.7 | |
| First Trading Date | 01/27/1992 | |
| Distance from 52W High | -1.9% | |
| 50 Days | 200 Days | |
| DMA Price | $48.50 | $46.09 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 6.2% | 11.7% |
| 3M | 1YR | |
| Volatility | 25.2% | 29.7% |
| Downside Capture | 42.72 | 89.02 |
| Upside Capture | 53.77 | 84.12 |
| Correlation (SPY) | 22.5% | 39.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.08 | 0.34 | 0.52 | 0.81 | 0.94 | 1.10 |
| Up Beta | -0.20 | 0.70 | 0.83 | 1.02 | 1.31 | 1.18 |
| Down Beta | 0.59 | 0.22 | 0.10 | 0.66 | 0.90 | 1.04 |
| Up Capture | 48% | 40% | 63% | 85% | 80% | 130% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 13 | 21 | 34 | 68 | 132 | 385 |
| Down Capture | -45% | 15% | 24% | 72% | 84% | 101% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 8 | 19 | 28 | 56 | 119 | 363 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GBCI | |
|---|---|---|---|---|
| GBCI | 14.7% | 29.5% | 0.47 | - |
| Sector ETF (XLF) | 7.6% | 14.8% | 0.28 | 63.4% |
| Equity (SPY) | 22.1% | 12.5% | 1.31 | 39.6% |
| Gold (GLD) | 23.5% | 27.8% | 0.75 | 10.0% |
| Commodities (DBC) | 23.6% | 18.7% | 0.99 | -17.7% |
| Real Estate (VNQ) | 13.4% | 13.9% | 0.67 | 44.8% |
| Bitcoin (BTCUSD) | -42.5% | 42.8% | -1.17 | 26.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GBCI | |
|---|---|---|---|---|
| GBCI | 1.5% | 35.0% | 0.11 | - |
| Sector ETF (XLF) | 10.4% | 18.6% | 0.43 | 64.9% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 51.0% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 3.0% |
| Commodities (DBC) | 7.3% | 19.5% | 0.27 | 6.9% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 51.1% |
| Bitcoin (BTCUSD) | 13.8% | 53.4% | 0.44 | 20.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GBCI | |
|---|---|---|---|---|
| GBCI | 10.7% | 35.0% | 0.38 | - |
| Sector ETF (XLF) | 13.9% | 22.1% | 0.57 | 73.2% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 57.9% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | -2.8% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 16.5% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 52.8% |
| Bitcoin (BTCUSD) | 58.6% | 66.2% | 0.99 | 16.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -1.3% | -0.6% | -3.5% |
| 1/22/2026 | -3.7% | 0.1% | -4.4% |
| 10/16/2025 | -2.5% | -4.5% | -6.0% |
| 7/24/2025 | 1.7% | -1.6% | 8.7% |
| 4/24/2025 | -4.2% | -3.7% | -4.6% |
| 1/23/2025 | -1.5% | -3.3% | -7.8% |
| 10/24/2024 | 3.9% | 9.3% | 22.2% |
| 7/18/2024 | -0.6% | 4.7% | 1.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 14 |
| # Negative | 14 | 12 | 10 |
| Median Positive | 3.2% | 3.3% | 8.4% |
| Median Negative | -2.5% | -2.3% | -4.5% |
| Max Positive | 8.3% | 9.3% | 22.2% |
| Max Negative | -4.2% | -6.2% | -9.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -1.3% | -0.6% | -3.5% |
| 1/22/2026 | -3.7% | 0.1% | -4.4% |
| 10/16/2025 | -2.5% | -4.5% | -6.0% |
| 7/24/2025 | 1.7% | -1.6% | 8.7% |
| 4/24/2025 | -4.2% | -3.7% | -4.6% |
| 1/23/2025 | -1.5% | -3.3% | -7.8% |
| 10/24/2024 | 3.9% | 9.3% | 22.2% |
| 7/18/2024 | -0.6% | 4.7% | 1.0% |
| 4/18/2024 | 5.2% | 6.6% | 11.9% |
| 1/25/2024 | 8.3% | -1.1% | -6.6% |
| 10/19/2023 | -0.8% | 2.6% | 12.4% |
| 8/22/2023 | -3.9% | 0.7% | -9.8% |
| 5/23/2023 | -3.8% | -6.2% | -0.2% |
| 1/26/2023 | -0.5% | 5.6% | 3.9% |
| 10/20/2022 | 2.9% | 6.9% | 12.2% |
| 7/21/2022 | -3.4% | 0.0% | 8.0% |
| 4/21/2022 | 0.3% | -0.6% | -4.3% |
| 1/27/2022 | -2.6% | -3.2% | 5.2% |
| 10/21/2021 | 1.8% | -2.0% | 4.7% |
| 7/22/2021 | 0.9% | 2.5% | 5.3% |
| 4/22/2021 | 5.1% | 3.0% | 1.4% |
| 1/28/2021 | -2.9% | 3.6% | 17.1% |
| 10/22/2020 | 3.5% | -0.2% | 16.8% |
| 7/23/2020 | -0.4% | -2.5% | -3.8% |
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 14 |
| # Negative | 14 | 12 | 10 |
| Median Positive | 3.2% | 3.3% | 8.4% |
| Median Negative | -2.5% | -2.3% | -4.5% |
| Max Positive | 8.3% | 9.3% | 22.2% |
| Max Negative | -4.2% | -6.2% | -9.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/31/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/31/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/02/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 11/01/2021 | 10-Q |
| 06/30/2021 | 08/02/2021 | 10-Q |
| 03/31/2021 | 05/03/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
| 09/30/2019 | 11/04/2019 | 10-Q |
| 06/30/2019 | 08/02/2019 | 10-Q |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Screnar, Ryan Thomas | Chief Administrative Officer | Direct | Buy | 2252026 | 48.10 | 187 | 8,995 | 710,100 | Form |
| 2 | Screnar, Ryan Thomas | Chief Compliance Officer | Direct | Buy | 11062025 | 41.88 | 979 | 40,996 | 454,009 | Form |
| 3 | Groom, Lee Kenneth | Chief Experience Officer | Direct | Buy | 11062025 | 41.26 | 2,425 | 100,056 | 591,792 | Form |
| 4 | Copher, Ron J | EXECUTIVE VICE PRESIDENT/CFO | Direct | Buy | 11052025 | 41.17 | 2,400 | 98,808 | 3,978,092 | Form |
| 5 | Chesler, Randall M | PRESIDENT/CEO | 401(k) | Buy | 11052025 | 40.91 | 2,437 | 99,698 | 303,634 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Screnar, Ryan Thomas | Chief Administrative Officer | Direct | Buy | 2252026 | 48.10 | 187 | 8,995 | 710,100 | Form |
| 2 | Screnar, Ryan Thomas | Chief Compliance Officer | Direct | Buy | 11062025 | 41.88 | 979 | 40,996 | 454,009 | Form |
| 3 | Groom, Lee Kenneth | Chief Experience Officer | Direct | Buy | 11062025 | 41.26 | 2,425 | 100,056 | 591,792 | Form |
| 4 | Copher, Ron J | EXECUTIVE VICE PRESIDENT/CFO | Direct | Buy | 11052025 | 41.17 | 2,400 | 98,808 | 3,978,092 | Form |
| 5 | Chesler, Randall M | PRESIDENT/CEO | 401(k) | Buy | 11052025 | 40.91 | 2,437 | 99,698 | 303,634 | Form |
| 6 | Heck, Kristen Lee | Direct | Buy | 11042025 | 40.79 | 611 | 24,921 | 429,727 | Form | |
| 7 | Heck, Kristen Lee | Direct | Buy | 8012025 | 42.41 | 153 | 6,489 | 420,919 | Form | |
| 8 | Groom, Lee Kenneth | Chief Experience Officer | Direct | Sell | 8012025 | 44.24 | 800 | 35,392 | 527,252 | Form |
Investor Activity (13F)
Updated Jul 13, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank and community-bank filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Lone Peak Global Investors LLC | $20.1 Mil | 3.4% | 42 | ADD +20.9% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Lone Peak Global Investors LLC | $20.1 Mil | 3.4% | 42 | ADD +20.9% | 13F |
| Active Manager |
|---|
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Lone Peak Global Investors LLC | $20.1 Mil | 3.4% | 42 | ADD +20.9% | 13F |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Regional Banks Resources |
| Bank Director |
| Independent Banker |
| S&P Global Market Intelligence |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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