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Zacks: Brokerages Anticipate Glacier Bancorp, Inc. (NASDAQ:GBCI) Will Announce Quarterly Sales of $223.33 Million

Monday, January 3, 2022 | MarketBeat

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.

See Also: Street Name

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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