SunTrust Banks Comments on Glacier Bancorp, Inc.’s Q3 2018 Earnings (GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) – Research analysts at SunTrust Banks raised their Q3 2018 earnings per share (EPS) estimates for shares of Glacier Bancorp in a note issued to investors on Monday. SunTrust Banks analyst M. Young now anticipates that the bank will earn $0.58 per share for the quarter, up from their previous forecast of $0.52. SunTrust Banks has a “Buy” rating and a $43.00 price objective on the stock. SunTrust Banks also issued estimates for Glacier Bancorp’s Q4 2018 earnings at $0.57 EPS.
GBCI has been the topic of a number of other research reports. Zacks Investment Research downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. BidaskClub downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of Glacier Bancorp in a research note on Friday, September 29th. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a research note on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.25.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $120.00 million for the quarter, compared to the consensus estimate of $121.07 million. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Tuesday, December 5th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.18%. Glacier Bancorp’s payout ratio is 49.12%.
In other Glacier Bancorp news, insider Don J. Chery sold 12,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $38.29, for a total transaction of $459,480.00. Following the completion of the sale, the insider now directly owns 30,270 shares of the company’s stock, valued at approximately $1,159,038.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Blodnick sold 45,060 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $37.88, for a total value of $1,706,872.80. Following the sale, the director now directly owns 27,576 shares of the company’s stock, valued at $1,044,578.88. The disclosure for this sale can be found here. Insiders have sold a total of 82,398 shares of company stock valued at $3,138,825 over the last ninety days. 0.65% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Glacier Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock worth $116,000 after acquiring an additional 283 shares during the period. PNC Financial Services Group Inc. lifted its position in Glacier Bancorp by 34.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock worth $135,000 after acquiring an additional 947 shares during the period. Advisor Group Inc. lifted its holdings in shares of Glacier Bancorp by 23.7% in the 2nd quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock valued at $142,000 after buying an additional 744 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $183,000. Finally, GWM Advisors LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $199,000. 81.57% of the stock is owned by institutional investors.
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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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