Brokerages Anticipate Glacier Bancorp (GBCI) Will Announce Quarterly Sales of $129.25 Million

Analysts forecast that Glacier Bancorp (NASDAQ:GBCI) will announce $129.25 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Glacier Bancorp’s earnings, with estimates ranging from $126.00 million to $136.40 million. Glacier Bancorp reported sales of $105.95 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22%. The company is scheduled to report its next earnings report after the market closes on Thursday, April 19th.

On average, analysts expect that Glacier Bancorp will report full year sales of $552.55 million for the current financial year, with estimates ranging from $536.60 million to $563.00 million. For the next year, analysts expect that the business will post sales of $585.80 million per share, with estimates ranging from $577.20 million to $594.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Glacier Bancorp.

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Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, January 25th. The bank reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.02). Glacier Bancorp had a return on equity of 11.46% and a net margin of 23.88%. The firm had revenue of $117.54 million during the quarter, compared to the consensus estimate of $122.23 million.

A number of brokerages have commented on GBCI. Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.00 price objective on shares of Glacier Bancorp in a report on Friday, December 22nd. Zacks Investment Research lowered shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. SunTrust Banks reissued a “buy” rating and set a $43.00 price objective on shares of Glacier Bancorp in a report on Tuesday, January 9th. BidaskClub lowered shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Sandler O’Neill reissued a “hold” rating and set a $41.00 price objective on shares of Glacier Bancorp in a report on Thursday, March 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $41.20.

Shares of GBCI traded down $0.21 during trading hours on Friday, hitting $38.12. The stock had a trading volume of 201,657 shares, compared to its average volume of 328,116. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 0.85. Glacier Bancorp has a 52 week low of $31.38 and a 52 week high of $41.24. The firm has a market cap of $3,207.87, a price-to-earnings ratio of 21.78, a PEG ratio of 1.69 and a beta of 1.30.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Tuesday, April 10th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is 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 52.57%.

In other news, Director James M. English sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $41.01, for a total value of $205,050.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Glacier Bancorp by 45.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,627 shares of the bank’s stock valued at $182,000 after purchasing an additional 1,454 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Glacier Bancorp by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 24,626 shares of the bank’s stock valued at $970,000 after purchasing an additional 1,496 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Glacier Bancorp by 34.6% in the 4th quarter. Advisor Group Inc. now owns 5,857 shares of the bank’s stock valued at $231,000 after purchasing an additional 1,505 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Glacier Bancorp by 0.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 333,049 shares of the bank’s stock valued at $13,119,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Trust Co boosted its stake in shares of Glacier Bancorp by 21.6% in the 3rd quarter. Trust Co now owns 9,850 shares of the bank’s stock valued at $372,000 after purchasing an additional 1,750 shares during the last quarter. 77.19% of the stock is currently owned by institutional investors.

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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.

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

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