Brokerages Anticipate Glacier Bancorp, Inc. (GBCI) Will Post Earnings of $0.46 Per Share
Wall Street analysts expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to report earnings per share (EPS) of $0.46 for the current quarter, Zacks reports. Four analysts have issued estimates for Glacier Bancorp’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.50. Glacier Bancorp posted earnings per share of $0.41 during the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The business is scheduled to issue its next earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Glacier Bancorp will report full-year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.81. For the next financial year, analysts forecast that the company will post earnings of $2.00 per share, with EPS estimates ranging from $1.94 to $2.06. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. Glacier Bancorp had a net margin of 27.69% and a return on equity of 11.35%. The firm had revenue of $120.00 million during the quarter, compared to analyst estimates of $121.07 million.
Several equities analysts have recently issued reports on the stock. BidaskClub lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 8th. SunTrust Banks reiterated a “buy” rating and set a $42.00 target price on shares of Glacier Bancorp in a report on Wednesday, November 29th. Piper Jaffray Companies set a $38.00 target price on shares of Glacier Bancorp and gave the company a “hold” rating in a report on Saturday, October 21st. Zacks Investment Research lowered shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $36.00 target price on shares of Glacier Bancorp in a report on Friday, September 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.67.
In related news, Director Michael J. Blodnick sold 45,060 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $37.88, for a total value of $1,706,872.80. Following the completion of the transaction, the director now directly owns 27,576 shares in the company, valued at approximately $1,044,578.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Don J. Chery sold 12,000 shares of the business’s 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 transaction, the insider now owns 30,270 shares of the company’s stock, valued at $1,159,038.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,398 shares of company stock valued at $3,138,825. 0.65% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Yellowstone Partners LLC purchased a new position in Glacier Bancorp in the 3rd quarter worth approximately $1,161,000. DF Dent & Co. Inc. grew its position in Glacier Bancorp by 153.5% in the 3rd quarter. DF Dent & Co. Inc. now owns 21,730 shares of the bank’s stock worth $821,000 after purchasing an additional 13,159 shares during the period. Neuberger Berman Group LLC grew its position in Glacier Bancorp by 3.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,683,218 shares of the bank’s stock worth $63,558,000 after purchasing an additional 57,397 shares during the period. California Public Employees Retirement System grew its position in Glacier Bancorp by 4.4% in the 3rd quarter. California Public Employees Retirement System now owns 188,495 shares of the bank’s stock worth $7,118,000 after purchasing an additional 7,995 shares during the period. Finally, Madison Investment Holdings Inc. grew its position in Glacier Bancorp by 0.3% in the 3rd quarter. Madison Investment Holdings Inc. now owns 734,975 shares of the bank’s stock worth $27,753,000 after purchasing an additional 2,535 shares during the period. Institutional investors own 84.40% of the company’s stock.
Glacier Bancorp (NASDAQ GBCI) traded up $1.11 during mid-day trading on Thursday, hitting $38.76. 1,043,402 shares of the stock traded hands, compared to its average volume of 337,342. Glacier Bancorp has a 1 year low of $31.38 and a 1 year high of $41.23. The stock has a market capitalization of $3,023.55, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.19 and a beta of 1.45. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.24.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Tuesday, December 5th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.17%. Glacier Bancorp’s payout ratio is 48.84%.
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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