DA Davidson Weighs in on Glacier Bancorp, Inc.’s FY2017 Earnings (GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) – Equities research analysts at DA Davidson boosted their FY2017 earnings estimates for Glacier Bancorp in a research note issued to investors on Monday. DA Davidson analyst J. Rulis now expects that the bank will post earnings of $1.76 per share for the year, up from their prior forecast of $1.75. DA Davidson also issued estimates for Glacier Bancorp’s Q4 2017 earnings at $0.45 EPS, Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.52 EPS and FY2019 earnings at $2.15 EPS.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The firm had revenue of $120.00 million for the quarter, compared to analysts’ expectations of $121.07 million. Glacier Bancorp had a net margin of 27.69% and a return on equity of 11.35%.
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Other analysts have also recently issued reports about the company. BidaskClub raised Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. SunTrust Banks, Inc. set a $41.00 price objective on Glacier Bancorp and gave the stock a “buy” rating in a report on Saturday. Piper Jaffray Companies reissued a “hold” rating and set a $37.00 price objective on shares of Glacier Bancorp in a report on Wednesday, July 12th. 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. Finally, Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.33.
Glacier Bancorp (GBCI) opened at 36.73 on Tuesday. The firm has a market cap of $2.86 billion, a PE ratio of 22.26 and a beta of 1.48. Glacier Bancorp has a 52 week low of $27.31 and a 52 week high of $38.18. The stock has a 50 day moving average of $35.70 and a 200 day moving average of $34.78.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 21st were paid a $0.21 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.29%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 48.84%.
Several hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Glacier Bancorp in the 3rd quarter valued at about $2,338,000. Mutual of America Capital Management LLC increased its stake in shares of Glacier Bancorp by 2.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 160,380 shares of the bank’s stock valued at $6,056,000 after acquiring an additional 4,399 shares during the last quarter. Intl Fcstone Inc. bought a new stake in shares of Glacier Bancorp in the 2nd quarter valued at about $1,344,000. Wasatch Advisors Inc. increased its stake in shares of Glacier Bancorp by 2.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,822,570 shares of the bank’s stock valued at $66,724,000 after acquiring an additional 42,317 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Glacier Bancorp by 8.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,937 shares of the bank’s stock valued at $3,256,000 after acquiring an additional 7,034 shares during the last quarter. 81.09% of the stock is owned by institutional investors.
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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