Wall Street brokerages expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to report earnings per share of $0.59 for the current quarter, according to Zacks. Four analysts have issued estimates for Glacier Bancorp’s earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.58. Glacier Bancorp reported earnings per share of $0.47 in the same quarter last year, which would suggest a positive year over year growth rate of 25.5%. The company is scheduled to issue its next earnings report after the market closes on Thursday, October 18th.
On average, analysts expect that Glacier Bancorp will report full year earnings of $2.20 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.21. For the next financial year, analysts expect that the firm will report earnings of $2.45 per share, with EPS estimates ranging from $2.40 to $2.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). Glacier Bancorp had a net margin of 25.31% and a return on equity of 11.56%. The company had revenue of $140.38 million during the quarter, compared to analyst estimates of $135.74 million. During the same quarter last year, the business earned $0.43 EPS.
Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, September 8th. Zacks Investment Research lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $44.00 target price on shares of Glacier Bancorp in a research report on Monday, July 23rd. Sandler O’Neill reiterated a “hold” rating and issued a $44.00 target price on shares of Glacier Bancorp in a research report on Friday, July 20th. Finally, ValuEngine upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.50.
Shares of NASDAQ GBCI traded up $0.55 during trading on Monday, hitting $43.94. The company had a trading volume of 222,800 shares, compared to its average volume of 364,395. Glacier Bancorp has a fifty-two week low of $35.50 and a fifty-two week high of $46.28. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.44. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.37.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Tuesday, October 9th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, October 5th. This represents a $1.04 dividend on an annualized basis and a yield of 2.37%. Glacier Bancorp’s payout ratio is presently 59.43%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Glacier Bancorp by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 1,180,327 shares of the bank’s stock worth $45,654,000 after acquiring an additional 28,769 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Glacier Bancorp by 9.8% during the second quarter. Public Employees Retirement System of Ohio now owns 26,199 shares of the bank’s stock worth $1,013,000 after acquiring an additional 2,346 shares during the last quarter. Sapience Investments LLC boosted its position in Glacier Bancorp by 31.2% during the second quarter. Sapience Investments LLC now owns 223,035 shares of the bank’s stock worth $8,627,000 after acquiring an additional 53,100 shares during the last quarter. Waddell & Reed Financial Inc. boosted its position in Glacier Bancorp by 3.1% during the second quarter. Waddell & Reed Financial Inc. now owns 250,718 shares of the bank’s stock worth $9,698,000 after acquiring an additional 7,620 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Glacier Bancorp during the second quarter worth about $7,016,000. Hedge funds and other institutional investors own 81.48% of the company’s stock.
About Glacier Bancorp
Glacier Bancorp, Inc operates as the holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. It offers deposit products, including non-interest bearing deposits, interest bearing negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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