Equities research analysts expect that Glacier Bancorp, Inc. (NASDAQ:GBCI) will report earnings per share of $0.60 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Glacier Bancorp’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.58. Glacier Bancorp reported earnings of $0.59 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The business is scheduled to report its next quarterly earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Glacier Bancorp will report full year earnings of $2.41 per share for the current year, with EPS estimates ranging from $2.38 to $2.45. For the next financial year, analysts forecast that the company will report earnings of $2.49 per share, with EPS estimates ranging from $2.44 to $2.55. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 18th. The bank reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Glacier Bancorp had a net margin of 31.97% and a return on equity of 13.02%. The company had revenue of $151.13 million for the quarter, compared to analyst estimates of $151.63 million.
Several equities research analysts have commented on GBCI shares. Zacks Investment Research upgraded shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. BidaskClub lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, SunTrust Banks set a $45.00 price objective on shares of Glacier Bancorp and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.67.
NASDAQ:GBCI traded down $0.80 on Wednesday, hitting $39.01. The stock had a trading volume of 17,978 shares, compared to its average volume of 295,346. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.41 billion, a PE ratio of 18.02, a P/E/G ratio of 1.64 and a beta of 1.16. Glacier Bancorp has a 1 year low of $36.84 and a 1 year high of $47.67. The firm’s fifty day simple moving average is $40.00.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were paid a $0.27 dividend. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, July 8th. This represents a $1.08 annualized dividend and a yield of 2.77%. Glacier Bancorp’s dividend payout ratio (DPR) is 49.77%.
In other Glacier Bancorp news, Director David C. Boyles sold 25,399 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $40.32, for a total value of $1,024,087.68. Following the completion of the sale, the director now owns 1,218 shares in the company, valued at approximately $49,109.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.59% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC raised its position in Glacier Bancorp by 171.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 210,805 shares of the bank’s stock worth $8,548,000 after purchasing an additional 133,027 shares during the period. Private Advisor Group LLC raised its position in Glacier Bancorp by 97.9% in the 2nd quarter. Private Advisor Group LLC now owns 24,288 shares of the bank’s stock worth $984,000 after purchasing an additional 12,013 shares during the period. Holocene Advisors LP raised its position in Glacier Bancorp by 69.9% in the 2nd quarter. Holocene Advisors LP now owns 9,282 shares of the bank’s stock worth $376,000 after purchasing an additional 3,820 shares during the period. Laurion Capital Management LP purchased a new position in Glacier Bancorp in the 2nd quarter worth $964,000. Finally, Pinebridge Investments L.P. raised its position in Glacier Bancorp by 175.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 48,499 shares of the bank’s stock worth $1,967,000 after purchasing an additional 30,874 shares during the period. 77.01% of the stock is owned by hedge funds and other institutional investors.
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 non-interest bearing deposit and interest bearing deposit accounts, such as 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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