Brokerages Expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to Announce $0.60 EPS
Wall Street analysts expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to announce earnings of $0.60 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Glacier Bancorp’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.61. Glacier Bancorp reported earnings per share of $0.59 during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The company is expected to issue its next earnings results on Thursday, October 17th.
According to Zacks, analysts expect that Glacier Bancorp will report full-year earnings of $2.40 per share for the current financial year, with EPS estimates ranging from $2.38 to $2.43. For the next financial year, analysts expect that the company will post earnings of $2.47 per share, with EPS estimates ranging from $2.35 to $2.53. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, July 18th. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Glacier Bancorp had a return on equity of 13.02% and a net margin of 31.97%. The business had revenue of $151.13 million for the quarter, compared to analyst estimates of $151.63 million.
Shares of NASDAQ GBCI traded up $0.62 during mid-day trading on Friday, hitting $40.73. 326,867 shares of the company were exchanged, compared to its average volume of 296,578. The stock has a 50 day simple moving average of $39.77 and a 200-day simple moving average of $40.64. Glacier Bancorp has a 1-year low of $36.84 and a 1-year high of $47.67. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.18.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $15,740,000. Morgan Stanley grew its holdings in Glacier Bancorp by 94.6% during the second quarter. Morgan Stanley now owns 461,971 shares of the bank’s stock worth $18,733,000 after acquiring an additional 224,556 shares during the period. BlackRock Inc. grew its holdings in Glacier Bancorp by 1.7% during the first quarter. BlackRock Inc. now owns 12,471,711 shares of the bank’s stock worth $499,741,000 after acquiring an additional 207,286 shares during the period. Balyasny Asset Management LLC grew its holdings in Glacier Bancorp by 171.0% during the second quarter. Balyasny Asset Management LLC now owns 210,805 shares of the bank’s stock worth $8,548,000 after acquiring an additional 133,027 shares during the period. Finally, Geode Capital Management LLC raised its position in Glacier Bancorp by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 963,015 shares of the bank’s stock worth $38,153,000 after acquiring an additional 95,121 shares in the last quarter. Institutional investors own 77.34% 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 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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