FIG Partners Weighs in on Glacier Bancorp, Inc.’s Q3 2017 Earnings (GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) – FIG Partners upped their Q3 2017 EPS estimates for Glacier Bancorp in a report issued on Friday. FIG Partners analyst T. Coffey now expects that the bank will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.48. FIG Partners also issued estimates for Glacier Bancorp’s Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $1.83 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $2.13 EPS.
Several other equities analysts also recently weighed in on GBCI. BidaskClub downgraded shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Piper Jaffray Companies dropped their target price on shares of Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, April 17th. Finally, Keefe, Bruyette & Woods set a $36.00 target price on shares of Glacier Bancorp and gave the company a “hold” rating in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $37.33.
Glacier Bancorp (NASDAQ:GBCI) opened at 34.98 on Monday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 21.20 and a beta of 1.45. The company has a 50-day moving average of $35.66 and a 200-day moving average of $34.92. Glacier Bancorp has a 52 week low of $25.90 and a 52 week high of $38.17.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. The company had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.60 million. During the same quarter last year, the company posted $0.40 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 12th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, July 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.40%. Glacier Bancorp’s payout ratio is 50.91%.
In other news, Director James M. English sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $36.65, for a total value of $91,625.00. Following the completion of the sale, the director now directly owns 20,181 shares in the company, valued at approximately $739,633.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GBCI. LS Investment Advisors LLC increased its position in shares of Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after buying an additional 134 shares during the last quarter. State of Alaska Department of Revenue increased its position 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. Municipal Employees Retirement System of Michigan increased its position in shares of Glacier Bancorp by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 17,480 shares of the bank’s stock valued at $593,000 after buying an additional 270 shares during the last quarter. Janney Montgomery Scott LLC increased its position 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. Finally, Louisiana State Employees Retirement System increased its position 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. 79.97% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Glacier Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.