Brokerages Expect Glacier Bancorp, Inc. (NASDAQ:GBCI) Will Announce Quarterly Sales of $161.08 Million

Posted by Adam Masters on Nov 15th, 2019 // Comments off

Equities analysts expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to announce $161.08 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Glacier Bancorp’s earnings, with estimates ranging from $156.70 million to $165.70 million. Glacier Bancorp posted sales of $144.37 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.6%. The business is scheduled to issue its next earnings results on Thursday, January 23rd.

On average, analysts expect that Glacier Bancorp will report full year sales of $621.23 million for the current financial year, with estimates ranging from $607.20 million to $631.10 million. For the next fiscal year, analysts forecast that the firm will post sales of $690.17 million, with estimates ranging from $670.80 million to $709.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Glacier Bancorp.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 17th. The bank reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.02). Glacier Bancorp had a return on equity of 12.65% and a net margin of 30.85%. The company had revenue of $174.50 million during the quarter, compared to the consensus estimate of $157.11 million.

GBCI has been the subject of several research reports. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, October 5th. SunTrust Banks lowered their price target on shares of Glacier Bancorp from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Stephens set a $40.00 price target on shares of Glacier Bancorp and gave the stock a “hold” rating in a research report on Thursday, October 17th. ValuEngine cut shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Zacks Investment Research cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.67.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its position in Glacier Bancorp by 2.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,343 shares of the bank’s stock valued at $462,000 after acquiring an additional 300 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Glacier Bancorp by 4.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the bank’s stock valued at $265,000 after acquiring an additional 301 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Glacier Bancorp by 1.1% during the second quarter. State of Alaska Department of Revenue now owns 28,794 shares of the bank’s stock valued at $1,167,000 after acquiring an additional 304 shares during the last quarter. Aperio Group LLC lifted its position in Glacier Bancorp by 1.9% during the second quarter. Aperio Group LLC now owns 21,186 shares of the bank’s stock valued at $859,000 after acquiring an additional 388 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Glacier Bancorp by 2.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,644 shares of the bank’s stock valued at $797,000 after acquiring an additional 403 shares during the last quarter. 72.49% of the stock is owned by hedge funds and other institutional investors.

Shares of GBCI opened at $43.65 on Friday. The company has a 50 day moving average price of $41.76 and a 200-day moving average price of $40.68. Glacier Bancorp has a fifty-two week low of $36.84 and a fifty-two week high of $47.67. The stock has a market capitalization of $4.07 billion, a PE ratio of 20.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.86 and a current ratio of 0.87.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Monday, October 7th. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.27. Glacier Bancorp’s dividend payout ratio is presently 53.46%.

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.

Brokerages Expect Glacier Bancorp, Inc. (NASDAQ:GBCI) Will Announce Quarterly Sales of $161.08 Million

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