Zacks: Analysts Anticipate Glacier Bancorp, Inc. (NASDAQ:GBCI) Will Announce Quarterly Sales of $152.37 Million
Analysts expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to post sales of $152.37 million for the current quarter, according to Zacks. Five analysts have made estimates for Glacier Bancorp’s earnings, with the lowest sales estimate coming in at $144.00 million and the highest estimate coming in at $158.00 million. Glacier Bancorp reported sales of $140.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.5%. The company is scheduled to announce its next earnings results on Thursday, July 18th.
On average, analysts expect that Glacier Bancorp will report full-year sales of $620.16 million for the current year, with estimates ranging from $590.90 million to $641.80 million. For the next year, analysts forecast that the company will report sales of $674.47 million, with estimates ranging from $647.50 million to $689.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, April 18th. The bank reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). Glacier Bancorp had a net margin of 31.38% and a return on equity of 12.83%. The business had revenue of $143.69 million for the quarter, compared to analysts’ expectations of $148.14 million.
Shares of NASDAQ:GBCI traded down $0.04 during trading hours on Friday, hitting $39.90. 184,228 shares of the company’s stock traded hands, compared to its average volume of 233,885. Glacier Bancorp has a 1 year low of $36.84 and a 1 year high of $47.67. The firm has a market capitalization of $3.46 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.84 and a quick ratio of 0.84.
In other Glacier Bancorp news, Director David C. Boyles sold 25,399 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $40.32, for a total transaction of $1,024,087.68. Following the completion of the transaction, the director now owns 1,218 shares in the company, valued at $49,109.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.59% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Glacier Bancorp by 1.7% in the first quarter. BlackRock Inc. now owns 12,471,711 shares of the bank’s stock worth $499,741,000 after buying an additional 207,286 shares in the last quarter. Vanguard Group Inc raised its stake in Glacier Bancorp by 2.7% in the third quarter. Vanguard Group Inc now owns 8,507,257 shares of the bank’s stock worth $366,578,000 after buying an additional 220,519 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Glacier Bancorp by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,158 shares of the bank’s stock worth $90,022,000 after buying an additional 24,482 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Glacier Bancorp by 0.4% in the first quarter. Eagle Asset Management Inc. now owns 1,701,975 shares of the bank’s stock worth $68,198,000 after buying an additional 7,372 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in Glacier Bancorp in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 77.39% of the company’s stock.
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.
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