Piper Sandler Weighs in on Glacier Bancorp, Inc.’s Q3 2020 Earnings (NASDAQ:GBCI)

Glacier Bancorp, Inc. (NASDAQ:GBCI) – Piper Sandler dropped their Q3 2020 earnings estimates for Glacier Bancorp in a research note issued to investors on Tuesday, July 28th. Piper Sandler analyst M. Clark now anticipates that the bank will post earnings of $0.77 per share for the quarter, down from their prior estimate of $0.82. Piper Sandler also issued estimates for Glacier Bancorp’s Q4 2020 earnings at $0.80 EPS, Q2 2021 earnings at $0.49 EPS and Q3 2021 earnings at $0.51 EPS.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.66 EPS for the quarter, topping the consensus estimate of $0.50 by $0.16. The business had revenue of $189.44 million for the quarter, compared to analysts’ expectations of $175.17 million. Glacier Bancorp had a net margin of 29.49% and a return on equity of 10.82%.

Several other analysts have also recently commented on the stock. BidaskClub cut shares of Glacier Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, June 26th. Zacks Investment Research cut shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. TheStreet cut shares of Glacier Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, July 14th. Finally, SunTrust Banks upped their target price on shares of Glacier Bancorp from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.75.

Shares of GBCI stock opened at $35.31 on Friday. The stock has a market cap of $3.37 billion, a P/E ratio of 15.29 and a beta of 1.07. Glacier Bancorp has a 52 week low of $26.66 and a 52 week high of $46.54. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $35.09 and its two-hundred day simple moving average is $37.65.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, July 6th. Glacier Bancorp’s dividend payout ratio is 48.74%.

In other Glacier Bancorp news, Director Sherry Leigh Cladouhos bought 1,140 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average cost of $35.00 per share, for a total transaction of $39,900.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. PAX Financial Group LLC grew its holdings in Glacier Bancorp by 2.9% during the 2nd quarter. PAX Financial Group LLC now owns 11,399 shares of the bank’s stock valued at $402,000 after purchasing an additional 320 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Glacier Bancorp by 2.8% during the 1st quarter. Victory Capital Management Inc. now owns 14,200 shares of the bank’s stock valued at $483,000 after purchasing an additional 393 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Glacier Bancorp by 2.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 20,855 shares of the bank’s stock valued at $736,000 after purchasing an additional 400 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Glacier Bancorp by 13.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,709 shares of the bank’s stock valued at $126,000 after purchasing an additional 436 shares during the last quarter. Finally, Brinker Capital Inc. grew its holdings in Glacier Bancorp by 2.3% during the 2nd quarter. Brinker Capital Inc. now owns 21,815 shares of the bank’s stock valued at $770,000 after purchasing an additional 492 shares during the last quarter. Institutional investors own 72.13% of the company’s stock.

Glacier Bancorp Company Profile

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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Earnings History and Estimates for Glacier Bancorp (NASDAQ:GBCI)

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