FIG Partners Weighs in on Glacier Bancorp, Inc.’s Q3 2017 Earnings (NASDAQ:GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) – Research analysts at FIG Partners boosted their Q3 2017 earnings estimates for shares of Glacier Bancorp in a report released on Friday. FIG Partners analyst T. Coffey now anticipates that the bank will post earnings of $0.50 per share for the quarter, up from their prior estimate of $0.48. FIG Partners also issued estimates for Glacier Bancorp’s Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $1.83 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $2.13 EPS.
Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $113.91 million for the quarter, compared to analyst estimates of $115.60 million. Glacier Bancorp had a return on equity of 11.02% and a net margin of 27.30%. During the same period in the previous year, the company earned $0.40 earnings per share.
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Several other equities research analysts have also recently commented on GBCI. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, July 12th. BidaskClub cut shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $36.00 price target on shares of Glacier Bancorp and gave the stock a “hold” rating in a research report on Monday, June 26th. Finally, Zacks Investment Research cut shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.33.
Glacier Bancorp (NASDAQ GBCI) opened at 34.98 on Monday. The firm’s 50-day moving average is $35.66 and its 200 day moving average is $34.92. The firm has a market capitalization of $2.73 billion, a P/E ratio of 21.20 and a beta of 1.45. Glacier Bancorp has a 52-week low of $25.90 and a 52-week high of $38.17.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, July 12th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, July 10th. This represents a $0.84 annualized dividend and a yield of 2.40%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 50.91%.
In other Glacier Bancorp news, Director James M. English sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $36.65, for a total transaction of $91,625.00. Following the sale, the director now directly owns 20,181 shares of the company’s stock, valued at approximately $739,633.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.65% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBCI. LS Investment Advisors LLC raised its position in Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after buying an additional 134 shares in the last quarter. Woodstock Corp purchased a new position in Glacier Bancorp during the second quarter valued at $211,000. Koch Industries Inc. purchased a new position in Glacier Bancorp during the first quarter valued at $218,000. Stratos Wealth Partners LTD. purchased a new position in Glacier Bancorp during the first quarter valued at $239,000. Finally, Bank of Montreal Can raised its position in Glacier Bancorp by 39.9% in the second quarter. Bank of Montreal Can now owns 6,799 shares of the bank’s stock valued at $249,000 after buying an additional 1,940 shares in the last quarter. Institutional investors own 79.97% of the company’s stock.
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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