Glacier Bancorp, Inc. (GBCI) Expected to Announce Quarterly Sales of $121.07 Million
Equities research analysts forecast that Glacier Bancorp, Inc. (NASDAQ:GBCI) will post $121.07 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Glacier Bancorp’s earnings, with estimates ranging from $115.58 million to $124.90 million. Glacier Bancorp reported sales of $106.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.2%. The business is scheduled to issue its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Glacier Bancorp will report full year sales of $121.07 million for the current year, with estimates ranging from $451.50 million to $483.70 million. For the next year, analysts forecast that the company will post sales of $520.29 million per share, with estimates ranging from $509.38 million to $532.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $115.60 million. During the same quarter last year, the business posted $0.40 earnings per share.
GBCI has been the subject of a number of recent analyst reports. BidaskClub raised Glacier Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Glacier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Monday, June 26th. Keefe, Bruyette & Woods set a $36.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a report on Monday, June 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $37.00 price target on shares of Glacier Bancorp in a report on Wednesday, July 12th.
Shares of Glacier Bancorp (NASDAQ GBCI) opened at 33.37 on Wednesday. The firm has a 50-day moving average price of $33.86 and a 200-day moving average price of $34.49. Glacier Bancorp has a 1-year low of $27.31 and a 1-year high of $38.17. The stock has a market capitalization of $2.60 billion, a PE ratio of 20.22 and a beta of 1.45.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 21st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Wednesday, September 20th. Glacier Bancorp’s dividend payout ratio (DPR) is 50.91%.
Institutional investors have recently bought and sold shares of the company. Karp Capital Management Corp purchased a new stake in shares of Glacier Bancorp in the 1st quarter valued at about $569,000. Oxford Asset Management purchased a new stake in shares of Glacier Bancorp in the 1st quarter valued at about $510,000. FMR LLC lifted its holdings in shares of Glacier Bancorp by 51.5% in the 1st quarter. FMR LLC now owns 218,800 shares of the bank’s stock valued at $7,424,000 after purchasing an additional 74,400 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Glacier Bancorp by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock valued at $239,402,000 after purchasing an additional 381,855 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Glacier Bancorp by 11.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 386,034 shares of the bank’s stock valued at $13,099,000 after purchasing an additional 39,884 shares during the last quarter. 81.12% of the stock is owned by institutional investors and hedge funds.
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About Glacier Bancorp
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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