Glacier Bancorp, Inc. to Post Q1 2018 Earnings of $0.53 Per Share, SunTrust Banks Forecasts (GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) – Equities research analysts at SunTrust Banks boosted their Q1 2018 earnings per share (EPS) estimates for Glacier Bancorp in a report released on Monday. SunTrust Banks analyst M. Young now expects that the bank will post earnings per share of $0.53 for the quarter, up from their previous forecast of $0.48. SunTrust Banks has a “Buy” rating and a $43.00 price target on the stock. SunTrust Banks also issued estimates for Glacier Bancorp’s Q2 2018 earnings at $0.56 EPS, FY2018 earnings at $2.23 EPS and FY2019 earnings at $2.47 EPS.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. The firm had revenue of $120.00 million for the quarter, compared to analysts’ expectations of $121.07 million.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Glacier Bancorp from a “sell” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Monday, January 1st. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the company a “hold” rating in a research report on Saturday, October 21st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price target on shares of Glacier Bancorp in a research report on Friday, September 29th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Glacier Bancorp presently has an average rating of “Hold” and an average target price of $41.50.
Shares of Glacier Bancorp (GBCI) opened at $38.48 on Tuesday. Glacier Bancorp has a 1 year low of $31.38 and a 1 year high of $41.23. The firm has a market capitalization of $3,000.00, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.81 and a quick ratio of 0.81.
Several hedge funds have recently made changes to their positions in GBCI. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Glacier Bancorp by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock valued at $116,000 after acquiring an additional 283 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Glacier Bancorp by 34.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock valued at $135,000 after acquiring an additional 947 shares during the last quarter. Advisor Group Inc. boosted its holdings in Glacier Bancorp by 23.7% in the second quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock valued at $142,000 after acquiring an additional 744 shares during the last quarter. Fiduciary Trust Co. bought a new position in Glacier Bancorp in the second quarter valued at about $183,000. Finally, GWM Advisors LLC bought a new position in Glacier Bancorp in the second quarter valued at about $199,000. Institutional investors own 81.57% of the company’s stock.
In other news, insider Don J. Chery sold 12,000 shares of the stock in a transaction 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 sale, the insider now owns 30,270 shares in the company, valued at $1,159,038.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Blodnick sold 45,060 shares of the stock in a transaction 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 owns 27,576 shares in the company, valued at approximately $1,044,578.88. The disclosure for this sale can be found here. Insiders have sold 82,398 shares of company stock worth $3,138,825 in the last 90 days. Company insiders own 0.65% of the company’s stock.
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. This represents a $0.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, December 4th. Glacier Bancorp’s payout ratio is presently 49.12%.
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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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