Zacks: Analysts Expect Glacier Bancorp, Inc. (GBCI) Will Announce Earnings of $0.47 Per Share
Brokerages forecast that Glacier Bancorp, Inc. (NASDAQ:GBCI) will announce $0.47 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Glacier Bancorp’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.45. Glacier Bancorp reported earnings per share of $0.40 in the same quarter last year, which would suggest a positive year over year growth rate of 17.5%. The company is scheduled to announce its next earnings results after the market closes on Thursday, October 19th.
According to Zacks, analysts expect that Glacier Bancorp will report full year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.75 to $1.81. For the next year, analysts forecast that the company will report earnings of $2.01 per share, with EPS estimates ranging from $1.94 to $2.09. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. The company had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.60 million. During the same quarter in the prior year, the company earned $0.40 EPS.
A number of research analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $36.00 price objective on shares of Glacier Bancorp in a research note on Friday. Zacks Investment Research downgraded shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Piper Jaffray Companies set a $38.00 target price on shares of Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, July 29th. Finally, BidaskClub lowered shares of Glacier Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th.
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Glacier Bancorp (NASDAQ:GBCI) traded up 0.18% during mid-day trading on Friday, hitting $37.95. The stock had a trading volume of 313,697 shares. The company has a 50-day moving average of $34.07 and a 200-day moving average of $34.36. Glacier Bancorp has a 12-month low of $27.31 and a 12-month high of $38.18. The firm has a market cap of $2.96 billion, a PE ratio of 23.00 and a beta of 1.48.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 21st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Wednesday, September 20th. Glacier Bancorp’s dividend payout ratio is presently 50.91%.
Several hedge funds and other institutional investors have recently modified their holdings of GBCI. LS Investment Advisors LLC lifted its stake in Glacier Bancorp by 4.9% during the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock worth $105,000 after purchasing an additional 134 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Glacier Bancorp by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock valued at $116,000 after purchasing an additional 283 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of 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 during the period. Advisor Group Inc. raised its holdings in shares of 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 purchasing an additional 744 shares during the period. Finally, Fiduciary Trust Co. acquired a new stake in shares of Glacier Bancorp during the second quarter worth $183,000. Institutional investors and hedge funds own 80.86% 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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