$121.07 Million in Sales Expected for Glacier Bancorp, Inc. (GBCI) This Quarter
Equities analysts forecast that Glacier Bancorp, Inc. (NASDAQ:GBCI) will report sales of $121.07 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Glacier Bancorp’s earnings. The lowest sales estimate is $115.58 million and the highest is $124.90 million. Glacier Bancorp reported sales of $106.92 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.2%. The firm is expected to report its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that Glacier Bancorp will report full-year sales of $121.07 million for the current fiscal year, with estimates ranging from $451.50 million to $483.70 million. For the next financial year, analysts anticipate that the company will post sales of $520.29 million per share, with estimates ranging from $509.38 million to $532.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $113.91 million for the quarter, compared to analyst estimates of $115.60 million. During the same period in the prior year, the company earned $0.40 earnings per share.
A number of analysts have weighed in on the company. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Piper Jaffray Companies restated a “hold” rating and issued a $37.00 price target on shares of Glacier Bancorp in a research note on Wednesday, July 12th. Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods set a $36.00 price target on Glacier Bancorp and gave the company a “hold” rating in a research note on Monday, June 26th.
In other news, Director James M. English sold 2,500 shares of Glacier Bancorp 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 $739,633.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in Glacier Bancorp by 9.2% in the second quarter. Jennison Associates LLC now owns 60,673 shares of the bank’s stock worth $2,221,000 after buying an additional 5,088 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Glacier Bancorp by 52.5% in the second quarter. BNP Paribas Arbitrage SA now owns 24,125 shares of the bank’s stock worth $883,000 after buying an additional 8,305 shares during the period. Legal & General Group Plc boosted its stake in Glacier Bancorp by 9.4% in the second quarter. Legal & General Group Plc now owns 147,469 shares of the bank’s stock worth $5,396,000 after buying an additional 12,688 shares during the period. Alps Advisors Inc. boosted its stake in Glacier Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 13,450 shares of the bank’s stock worth $492,000 after buying an additional 34 shares during the period. Finally, Denver Investment Advisors LLC purchased a new stake in Glacier Bancorp during the second quarter worth approximately $18,631,000. Institutional investors and hedge funds own 78.55% of the company’s stock.
Glacier Bancorp (GBCI) opened at 35.04 on Monday. The company’s 50-day moving average price is $35.84 and its 200 day moving average price is $34.89. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 21.24 and a beta of 1.44. Glacier Bancorp has a 12 month low of $26.80 and a 12 month high of $38.17.
The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Wednesday, July 12th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, July 10th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 50.91%.
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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