DA Davidson Comments on Glacier Bancorp Inc.’s Q1 2017 Earnings (GBCI)
Glacier Bancorp Inc. (NASDAQ:GBCI) – Investment analysts at DA Davidson decreased their Q1 2017 earnings per share estimates for shares of Glacier Bancorp in a research note issued to investors on Wednesday. DA Davidson analyst J. Rulis now anticipates that the firm will post earnings of $0.41 per share for the quarter, down from their previous estimate of $0.42.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 20th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.02. Glacier Bancorp had a net margin of 26.97% and a return on equity of 10.77%.
GBCI has been the subject of a number of other research reports. Zacks Investment Research downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. FIG Partners downgraded Glacier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. One 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 stock. The company has an average rating of “Hold” and an average target price of $27.25.
Glacier Bancorp (NASDAQ:GBCI) traded up 1.57% during mid-day trading on Friday, reaching $33.73. 174,789 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $28.96 and a 200-day moving average of $27.79. Glacier Bancorp has a one year low of $21.90 and a one year high of $33.85. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 21.48 and a beta of 1.34.
A number of hedge funds have recently added to or reduced their stakes in GBCI. Pacad Investment Ltd. purchased a new stake in Glacier Bancorp during the second quarter worth $100,000. Tower Research Capital LLC TRC purchased a new stake in Glacier Bancorp during the second quarter worth $102,000. Riverhead Capital Management LLC increased its stake in Glacier Bancorp by 34.9% in the third quarter. Riverhead Capital Management LLC now owns 3,800 shares of the company’s stock worth $108,000 after buying an additional 984 shares during the last quarter. Bank of Montreal Can purchased a new stake in Glacier Bancorp during the second quarter worth $117,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Glacier Bancorp during the second quarter worth $120,000. Institutional investors own 76.36% of the company’s stock.
In related news, Director Craig A. Langel sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $33.28, for a total value of $99,840.00. Following the completion of the sale, the director now owns 59,729 shares in the company, valued at approximately $1,987,781.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.09% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, December 6th will be given a $0.20 dividend. The ex-dividend date is Friday, December 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. Glacier Bancorp’s payout ratio is 50.96%.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company 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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