Glacier Bancorp, Inc. (NASDAQ:GBCI) – Investment analysts at FIG Partners lifted their FY2018 earnings per share estimates for Glacier Bancorp in a research report issued to clients and investors on Wednesday. FIG Partners analyst T. Coffey now forecasts that the bank will post earnings of $2.30 per share for the year, up from their previous forecast of $2.06.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Piper Jaffray Companies set a $38.00 price objective on Glacier Bancorp and gave the stock a “hold” rating in a report on Saturday, October 21st. SunTrust Banks set a $41.00 price objective on Glacier Bancorp and gave the stock a “buy” rating in a report on Saturday, October 21st. BidaskClub cut Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 8th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price objective on shares of Glacier Bancorp in a report on Friday, September 29th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.25.
Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. The business had revenue of $120.00 million during the quarter, compared to analysts’ expectations of $121.07 million.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Tuesday, December 5th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, December 4th. Glacier Bancorp’s payout ratio is currently 49.12%.
In other news, insider Don J. Chery sold 12,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $38.29, for a total value of $459,480.00. Following the completion of the transaction, the insider now directly owns 30,270 shares in the company, valued at approximately $1,159,038.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Blodnick sold 25,338 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $38.38, for a total value of $972,472.44. Following the completion of the transaction, the director now owns 25,497 shares of the company’s stock, valued at $978,574.86. The disclosure for this sale can be found here. Insiders sold a total of 82,398 shares of company stock valued at $3,138,825 over the last quarter. Company insiders own 0.65% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Mutual of America Capital Management LLC boosted its holdings in Glacier Bancorp by 2.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 160,380 shares of the bank’s stock valued at $6,056,000 after acquiring an additional 4,399 shares during the period. California Public Employees Retirement System boosted its holdings in Glacier Bancorp by 1.5% during the 2nd quarter. California Public Employees Retirement System now owns 180,500 shares of the bank’s stock valued at $6,608,000 after acquiring an additional 2,600 shares during the period. Wells Fargo & Company MN boosted its holdings in Glacier Bancorp by 11.0% during the 3rd quarter. Wells Fargo & Company MN now owns 304,006 shares of the bank’s stock valued at $11,479,000 after acquiring an additional 30,019 shares during the period. Northern Trust Corp boosted its holdings in Glacier Bancorp by 7.5% during the 2nd quarter. Northern Trust Corp now owns 1,375,756 shares of the bank’s stock valued at $50,366,000 after acquiring an additional 96,330 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in Glacier Bancorp by 6.0% during the 2nd quarter. Teachers Advisors LLC now owns 137,408 shares of the bank’s stock valued at $5,031,000 after acquiring an additional 7,746 shares during the period. Institutional investors own 81.57% of the company’s stock.
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Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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