$115.60 Million in Sales Expected for Glacier Bancorp, Inc. (GBCI) This Quarter
Brokerages predict that Glacier Bancorp, Inc. (NASDAQ:GBCI) will report $115.60 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Glacier Bancorp’s earnings, with estimates ranging from $109.50 million to $121.30 million. Glacier Bancorp posted sales of $105.40 million in the same quarter last year, which suggests a positive year over year growth rate of 9.7%. The business is scheduled to report its next earnings results on Thursday, July 20th.
According to Zacks, analysts expect that Glacier Bancorp will report full-year sales of $115.60 million for the current fiscal year, with estimates ranging from $431.00 million to $482.80 million. For the next fiscal year, analysts expect that the business will report sales of $511.16 million per share, with estimates ranging from $483.20 million to $534.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $105.95 million during the quarter, compared to analyst estimates of $112.10 million. Glacier Bancorp had a net margin of 27.12% and a return on equity of 10.94%. During the same period in the prior year, the business posted $0.38 EPS.
GBCI has been the topic of several recent research reports. Zacks Investment Research raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, April 3rd. BidaskClub raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Piper Jaffray Companies reduced their target price on shares of Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th.
In related news, Director James M. English sold 2,500 shares of Glacier Bancorp stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $36.65, for a total transaction of $91,625.00. Following the transaction, the director now owns 20,181 shares of the company’s stock, valued at approximately $739,633.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Glacier Bancorp by 50,940.2% in the first quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock worth $327,084,000 after buying an additional 9,621,084 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Glacier Bancorp by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock worth $239,402,000 after buying an additional 381,855 shares during the last quarter. State Street Corp raised its position in shares of Glacier Bancorp by 25.8% in the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock worth $101,899,000 after buying an additional 615,216 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Glacier Bancorp by 2.7% in the first quarter. JPMorgan Chase & Co. now owns 2,207,769 shares of the bank’s stock worth $74,909,000 after buying an additional 58,634 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in shares of Glacier Bancorp by 12.7% in the first quarter. Aberdeen Asset Management PLC UK now owns 2,067,985 shares of the bank’s stock worth $70,177,000 after buying an additional 233,270 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Glacier Bancorp (NASDAQ GBCI) traded down 1.10% during mid-day trading on Thursday, hitting $35.11. 42,142 shares of the stock were exchanged. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 21.69 and a beta of 1.48. Glacier Bancorp has a 1-year low of $24.58 and a 1-year high of $38.17. The company’s 50-day moving average is $34.19 and its 200-day moving average is $34.98.
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Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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