Glacier Bancorp, Inc. (GBCI) Issues Earnings Results
Glacier Bancorp, Inc. (NASDAQ:GBCI) issued its earnings results on Thursday. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01, RTT News reports. Glacier Bancorp had a return on equity of 10.94% and a net margin of 27.12%. The company had revenue of $113.91 million for the quarter, compared to the consensus estimate of $115.60 million. During the same quarter last year, the business posted $0.40 EPS.
Glacier Bancorp (NASDAQ GBCI) traded up 0.71% during trading on Friday, hitting $35.65. The stock had a trading volume of 146,771 shares. The firm has a market capitalization of $2.73 billion, a P/E ratio of 22.02 and a beta of 1.45. The stock has a 50 day moving average of $35.66 and a 200 day moving average of $34.92. Glacier Bancorp has a one year low of $25.90 and a one year high of $38.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Wednesday, July 12th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, July 10th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 51.85%.
A number of brokerages have issued reports on GBCI. BidaskClub cut Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Piper Jaffray Companies cut their price objective on Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. Finally, Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $37.33.
In related news, Director James M. English sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total transaction of $91,625.00. Following the sale, the director now owns 20,181 shares in the company, valued at approximately $739,633.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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. Institutional investors own 80.35% of the company’s stock.
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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