Zacks: Analysts Anticipate Glacier Bancorp, Inc. (NASDAQ:GBCI) Will Announce Quarterly Sales of $115.60 Million
Brokerages expect that Glacier Bancorp, Inc. (NASDAQ:GBCI) will report $115.60 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Glacier Bancorp’s earnings. The lowest sales estimate is $109.50 million and the highest is $121.30 million. Glacier Bancorp reported sales of $105.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, July 20th.
On average, analysts expect that Glacier Bancorp will report full year sales of $115.60 million for the current year, with estimates ranging from $431.00 million to $482.80 million. For the next fiscal year, analysts expect that the firm will post sales of $511.16 million per share, with estimates ranging from $483.20 million to $534.80 million. Zacks’ sales averages are an average based on a survey of analysts that follow Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Glacier Bancorp had a return on equity of 10.94% and a net margin of 27.12%. The firm had revenue of $105.95 million during the quarter, compared to analysts’ expectations of $112.10 million. During the same period in the previous year, the business earned $0.38 earnings per share.
GBCI has been the subject of several research reports. Zacks Investment Research raised Glacier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Monday, June 26th. Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the stock a “hold” rating in a report on Monday, June 26th. BidaskClub raised Glacier Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Piper Jaffray Companies reduced their price objective on Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, April 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Glacier Bancorp currently has a consensus rating of “Hold” and an average price target of $37.33.
In related news, Director James M. English sold 2,500 shares of Glacier Bancorp stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total transaction of $91,625.00. Following the completion of the transaction, the director now directly owns 20,181 shares of the company’s stock, valued at $739,633.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its position in Glacier Bancorp by 6.4% in the first quarter. Great West Life Assurance Co. Can now owns 106,027 shares of the bank’s stock valued at $3,597,000 after buying an additional 6,342 shares during the last quarter. First Midwest Bank Trust Division increased its position in Glacier Bancorp by 9.1% in the first quarter. First Midwest Bank Trust Division now owns 13,773 shares of the bank’s stock valued at $467,000 after buying an additional 1,146 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Glacier Bancorp by 3.5% in the first quarter. Janney Montgomery Scott LLC now owns 10,390 shares of the bank’s stock valued at $353,000 after buying an additional 350 shares during the last quarter. State of Alaska Department of Revenue increased its position in Glacier Bancorp by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 8,480 shares of the bank’s stock valued at $287,000 after buying an additional 180 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Glacier Bancorp by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,200 shares of the bank’s stock valued at $1,059,000 after buying an additional 400 shares during the last quarter. 80.42% of the stock is owned by institutional investors.
Shares of Glacier Bancorp (GBCI) opened at 35.70 on Friday. Glacier Bancorp has a 12 month low of $25.09 and a 12 month high of $38.17. The company’s 50 day moving average price is $34.43 and its 200 day moving average price is $34.96. The stock has a market capitalization of $2.74 billion, a PE ratio of 22.05 and a beta of 1.45.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Wednesday, July 12th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, July 10th. This represents a $0.84 annualized dividend and a yield of 2.35%. Glacier Bancorp’s dividend payout ratio is presently 51.85%.
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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