Equities research analysts forecast that Glacier Bancorp, Inc. (NASDAQ:GBCI) will report $155.03 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Glacier Bancorp’s earnings, with the lowest sales estimate coming in at $145.80 million and the highest estimate coming in at $158.70 million. Glacier Bancorp posted sales of $146.16 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The company is expected to announce its next quarterly earnings results on Thursday, October 17th.
According to Zacks, analysts expect that Glacier Bancorp will report full-year sales of $604.76 million for the current fiscal year, with estimates ranging from $564.90 million to $625.70 million. For the next fiscal year, analysts anticipate that the business will post sales of $666.19 million, with estimates ranging from $655.50 million to $677.44 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $151.13 million during the quarter, compared to analyst estimates of $151.63 million. Glacier Bancorp had a net margin of 31.97% and a return on equity of 13.02%.
In related news, Director David C. Boyles sold 25,399 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $40.32, for a total value of $1,024,087.68. Following the transaction, the director now owns 1,218 shares of the company’s stock, valued at $49,109.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.59% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can boosted its holdings in shares of Glacier Bancorp by 1.2% in the first quarter. Great West Life Assurance Co. Can now owns 112,786 shares of the bank’s stock worth $4,515,000 after buying an additional 1,285 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Glacier Bancorp by 9.7% in the fourth quarter. Amalgamated Bank now owns 12,349 shares of the bank’s stock worth $489,000 after buying an additional 1,095 shares during the last quarter. First Interstate Bank boosted its holdings in shares of Glacier Bancorp by 31.6% in the first quarter. First Interstate Bank now owns 5,417 shares of the bank’s stock worth $217,000 after buying an additional 1,302 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Glacier Bancorp in the fourth quarter worth approximately $1,053,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Glacier Bancorp by 359.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 27,593 shares of the bank’s stock worth $1,093,000 after acquiring an additional 21,590 shares during the period. 77.34% of the stock is currently owned by institutional investors.
GBCI stock traded up $0.07 during trading on Wednesday, hitting $41.91. 700,700 shares of the stock traded hands, compared to its average volume of 289,551. Glacier Bancorp has a 1 year low of $36.84 and a 1 year high of $47.67. The stock has a 50 day simple moving average of $40.08. The stock has a market capitalization of $3.63 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.70 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.09.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were issued a $0.27 dividend. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, July 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.58%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 49.77%.
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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