Equities analysts expect Glacier Bancorp, Inc. (NASDAQ:GBCI) to report sales of $223.33 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Glacier Bancorp's earnings. The highest sales estimate is $224.50 million and the lowest is $221.60 million. Glacier Bancorp posted sales of $210.46 million in the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The business is scheduled to announce its next quarterly earnings report on Thursday, January 27th.
On average, analysts expect that Glacier Bancorp will report full-year sales of $808.73 million for the current year, with estimates ranging from $807.00 million to $809.90 million. For the next fiscal year, analysts forecast that the firm will post sales of $921.10 million, with estimates ranging from $910.50 million to $941.20 million. Zacks' sales averages are an average based on a survey of research analysts that that provide coverage for Glacier Bancorp.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Wednesday, October 20th. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $197.43 million for the quarter, compared to analyst estimates of $190.27 million. Glacier Bancorp had a net margin of 38.78% and a return on equity of 13.52%. During the same quarter last year, the firm earned $0.81 EPS.
Several analysts have commented on GBCI shares. Zacks Investment Research upgraded shares of Glacier Bancorp from a "hold" rating to a "buy" rating and set a $62.00 target price on the stock in a report on Wednesday, October 27th. Truist lifted their price objective on shares of Glacier Bancorp from $60.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, September 28th. DA Davidson lifted their price objective on shares of Glacier Bancorp from $65.00 to $68.00 and gave the company a "buy" rating in a report on Monday, October 25th. Finally, Truist Securities lifted their price objective on shares of Glacier Bancorp from $60.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, September 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Glacier Bancorp currently has an average rating of "Buy" and an average price target of $64.50.
A number of institutional investors and hedge funds have recently modified their holdings of GBCI. Clearstead Advisors LLC bought a new position in Glacier Bancorp during the third quarter worth $26,000. O Shaughnessy Asset Management LLC boosted its position in Glacier Bancorp by 341.0% during the second quarter. O Shaughnessy Asset Management LLC now owns 688 shares of the bank's stock worth $38,000 after purchasing an additional 532 shares during the period. Rockefeller Capital Management L.P. boosted its position in Glacier Bancorp by 665.8% during the third quarter. Rockefeller Capital Management L.P. now owns 919 shares of the bank's stock worth $50,000 after purchasing an additional 799 shares during the period. Ten Capital Wealth Advisors LLC bought a new position in Glacier Bancorp during the third quarter worth $51,000. Finally, Van ECK Associates Corp boosted its position in Glacier Bancorp by 125.6% during the second quarter. Van ECK Associates Corp now owns 1,146 shares of the bank's stock worth $63,000 after purchasing an additional 638 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.
Shares of GBCI stock opened at $56.70 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.63 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.28 billion, a P/E ratio of 17.13 and a beta of 0.91. The business's 50 day moving average is $57.08. Glacier Bancorp has a 52 week low of $44.10 and a 52 week high of $67.35.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 16th. Investors of record on Tuesday, December 7th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 2.26%. Glacier Bancorp's payout ratio is 38.67%.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking services. It operates through the following segments: Residential Real Estate Loans, Home Equity loans, and Other Consumer Loans. It offers retail banking, business banking, real estate, commercial, agriculture and consumer loans and mortgage origination services.
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