Q3 2018 Earnings Estimate for Glacier Bancorp, Inc. Issued By SunTrust Banks (GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) – SunTrust Banks raised their Q3 2018 earnings per share estimates for Glacier Bancorp in a report released on Monday. SunTrust Banks analyst M. Young now expects that the bank will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.52. SunTrust Banks has a “Buy” rating and a $43.00 price objective on the stock. SunTrust Banks also issued estimates for Glacier Bancorp’s Q4 2018 earnings at $0.57 EPS.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Glacier Bancorp had a net margin of 30.40% and a return on equity of 12.11%. The business had revenue of $120.00 million during the quarter, compared to analysts’ expectations of $121.07 million.
A number of other brokerages have also recently commented on GBCI. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $41.00 target price on shares of Glacier Bancorp in a report on Friday, December 22nd. Zacks Investment Research raised shares of Glacier Bancorp from a “sell” rating to a “buy” rating and set a $44.00 price target for the company in a report on Monday, January 1st. Finally, Piper Jaffray Companies set a $38.00 price target on shares of Glacier Bancorp and gave the stock a “hold” rating in a report on Saturday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.25.
Shares of Glacier Bancorp (GBCI) traded up $0.61 during trading hours on Wednesday, hitting $39.82. 318,200 shares of the stock were exchanged, compared to its average volume of 326,638. Glacier Bancorp has a 1-year low of $31.38 and a 1-year high of $41.23. 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 stock has a market capitalization of $3,120.00, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors 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 yield of 2.11%. Glacier Bancorp’s dividend payout ratio is currently 49.12%.
In related news, Director Michael J. Blodnick sold 45,060 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $37.88, for a total transaction of $1,706,872.80. Following the completion of the transaction, the director now directly owns 27,576 shares of the company’s stock, valued at $1,044,578.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Don J. Chery sold 12,000 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $38.29, for a total transaction of $459,480.00. Following the transaction, the insider now directly owns 30,270 shares of the company’s stock, valued at $1,159,038.30. The disclosure for this sale can be found here. Insiders have sold 82,398 shares of company stock valued at $3,138,825 over the last three months. 0.65% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Glacier Bancorp by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock worth $116,000 after purchasing an additional 283 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Glacier Bancorp by 34.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock worth $135,000 after purchasing an additional 947 shares in the last quarter. Advisor Group Inc. grew its position in Glacier Bancorp by 23.7% during the second quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock worth $142,000 after buying an additional 744 shares during the period. Fiduciary Trust Co. acquired a new position in Glacier Bancorp during the second quarter worth about $183,000. Finally, GWM Advisors LLC acquired a new position in Glacier Bancorp during the second quarter worth about $199,000. 81.57% of the stock is owned by hedge funds and other institutional investors.
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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