Glacier Bancorp, Inc. (NASDAQ:GBCI) Expected to Announce Quarterly Sales of $157.77 Million

Brokerages expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to announce sales of $157.77 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Glacier Bancorp’s earnings, with the highest sales estimate coming in at $159.50 million and the lowest estimate coming in at $156.30 million. Glacier Bancorp reported sales of $146.16 million in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The firm is expected to report its next earnings report on Thursday, October 17th.

On average, analysts expect that Glacier Bancorp will report full-year sales of $615.34 million for the current financial year, with estimates ranging from $609.40 million to $625.70 million. For the next financial year, analysts forecast that the firm will post sales of $666.47 million, with estimates ranging from $655.50 million to $677.44 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Glacier Bancorp.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 18th. The bank reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Glacier Bancorp had a net margin of 31.97% and a return on equity of 13.02%. The business had revenue of $151.13 million during the quarter, compared to the consensus estimate of $151.63 million.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. BidaskClub downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.67.

Shares of Glacier Bancorp stock traded up $0.62 during midday trading on Friday, hitting $40.73. The company had a trading volume of 326,867 shares, compared to its average volume of 296,578. Glacier Bancorp has a 52-week low of $36.84 and a 52-week high of $47.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $3.49 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.66 and a beta of 1.18. The company has a 50 day moving average of $39.77 and a 200 day moving average of $40.64.

A number of hedge funds have recently made changes to their positions in GBCI. BlackRock Inc. grew its holdings in shares of Glacier Bancorp by 1.7% during the first quarter. BlackRock Inc. now owns 12,471,711 shares of the bank’s stock valued at $499,741,000 after buying an additional 207,286 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 24,482 shares during the last quarter. Northern Trust Corp raised its stake in shares of Glacier Bancorp by 2.5% in the second quarter. Northern Trust Corp now owns 1,278,591 shares of the bank’s stock worth $51,847,000 after purchasing an additional 30,824 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Glacier Bancorp by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 1,247,033 shares of the bank’s stock worth $50,567,000 after purchasing an additional 25,530 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Glacier Bancorp by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 963,015 shares of the bank’s stock valued at $38,153,000 after purchasing an additional 95,121 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

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 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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