Brokerages Anticipate Glacier Bancorp (GBCI) Will Post Quarterly Sales of $137.33 Million

Wall Street analysts expect that Glacier Bancorp (NASDAQ:GBCI) will post sales of $137.33 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Glacier Bancorp’s earnings, with estimates ranging from $132.76 million to $139.60 million. Glacier Bancorp posted sales of $113.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.6%. The business is expected to announce its next earnings results on Thursday, July 19th.

According to Zacks, analysts expect that Glacier Bancorp will report full year sales of $544.15 million for the current financial year, with estimates ranging from $526.84 million to $553.30 million. For the next financial year, analysts forecast that the company will post sales of $578.71 million per share, with estimates ranging from $561.05 million to $589.20 million. Zacks’ sales averages are an average based on a survey of research firms that follow Glacier Bancorp.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Glacier Bancorp had a return on equity of 11.31% and a net margin of 24.58%. The company had revenue of $121.38 million for the quarter, compared to analysts’ expectations of $129.25 million. During the same quarter last year, the business posted $0.41 EPS.

GBCI has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Sandler O’Neill restated a “hold” rating and set a $41.00 price objective on shares of Glacier Bancorp in a report on Thursday, March 29th. Zacks Investment Research downgraded shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub upgraded shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. Finally, DA Davidson decreased their price objective on shares of Glacier Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $41.00.

Glacier Bancorp opened at $39.53 on Friday, according to MarketBeat Ratings. Glacier Bancorp has a 52-week low of $39.02 and a 52-week high of $39.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $3.31 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.82 and a beta of 1.32.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 19th. Shareholders of record on Tuesday, April 10th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Monday, April 9th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.21. Glacier Bancorp’s dividend payout ratio (DPR) is currently 52.57%.

In other Glacier Bancorp news, Director James M. English sold 5,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $41.01, for a total transaction of $205,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Glacier Bancorp by 2.3% during the first quarter. BlackRock Inc. now owns 10,799,306 shares of the bank’s stock worth $414,478,000 after purchasing an additional 247,711 shares during the period. Neuberger Berman Group LLC boosted its position in Glacier Bancorp by 11.2% during the first quarter. Neuberger Berman Group LLC now owns 2,375,112 shares of the bank’s stock worth $91,157,000 after purchasing an additional 239,163 shares during the period. Standard Life Aberdeen plc boosted its position in Glacier Bancorp by 3.1% during the fourth quarter. Standard Life Aberdeen plc now owns 2,317,894 shares of the bank’s stock worth $91,302,000 after purchasing an additional 69,948 shares during the period. Goldman Sachs Group Inc. boosted its position in Glacier Bancorp by 12.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,258,782 shares of the bank’s stock worth $88,974,000 after purchasing an additional 253,840 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its position in Glacier Bancorp by 20.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,022,253 shares of the bank’s stock worth $77,614,000 after purchasing an additional 340,775 shares during the period. Hedge funds and other institutional investors own 76.55% 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 deposit products, including non-interest bearing deposits, interest bearing 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.

Get a free copy of the Zacks research report on Glacier Bancorp (GBCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply