Brokerages Expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to Announce $0.58 EPS

Brokerages expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to announce earnings per share (EPS) of $0.58 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Glacier Bancorp’s earnings. The lowest EPS estimate is $0.53 and the highest is $0.61. Glacier Bancorp posted earnings per share of $0.59 in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, January 23rd.

According to Zacks, analysts expect that Glacier Bancorp will report full-year earnings of $2.38 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.41. For the next year, analysts forecast that the firm will post earnings of $2.49 per share, with EPS estimates ranging from $2.40 to $2.54. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Glacier Bancorp.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.02). Glacier Bancorp had a net margin of 30.85% and a return on equity of 13.38%. The business had revenue of $174.50 million for the quarter, compared to analysts’ expectations of $157.11 million.

GBCI has been the subject of several analyst reports. SunTrust Banks reduced their target price on shares of Glacier Bancorp from $42.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Zacks Investment Research lowered shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Stephens set a $40.00 target price on shares of Glacier Bancorp and gave the stock a “hold” rating in a report on Thursday. Finally, BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, October 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Glacier Bancorp has an average rating of “Hold” and a consensus target price of $41.67.

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC purchased a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $1,920,000. Nomura Holdings Inc. purchased a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $406,000. Ontario Teachers Pension Plan Board purchased a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $1,017,000. Acadian Asset Management LLC purchased a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $1,477,000. Finally, Allianz Asset Management GmbH grew its holdings in Glacier Bancorp by 37.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 18,567 shares of the bank’s stock valued at $753,000 after buying an additional 5,033 shares in the last quarter. 77.10% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp stock traded down $0.20 during midday trading on Monday, hitting $42.10. The stock had a trading volume of 575,164 shares, compared to its average volume of 300,107. The firm’s fifty day moving average is $40.37 and its two-hundred day moving average is $40.52. The company has a market capitalization of $3.54 billion, a PE ratio of 19.40 and a beta of 1.17. Glacier Bancorp has a 52-week low of $36.84 and a 52-week high of $47.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.76%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, October 7th. Glacier Bancorp’s dividend payout ratio is currently 53.46%.

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

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