Glacier Bancorp, Inc. (NASDAQ:GBCI) to Post Q4 2020 Earnings of $0.70 Per Share, SunTrust Banks Forecasts

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Glacier Bancorp, Inc. (NASDAQ:GBCI) – Stock analysts at SunTrust Banks boosted their Q4 2020 EPS estimates for shares of Glacier Bancorp in a research note issued on Tuesday, June 30th. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings per share of $0.70 for the quarter, up from their prior estimate of $0.66. SunTrust Banks has a “Buy” rating and a $40.00 price target on the stock. SunTrust Banks also issued estimates for Glacier Bancorp’s Q2 2021 earnings at $0.48 EPS, Q3 2021 earnings at $0.48 EPS, Q4 2021 earnings at $0.44 EPS and FY2021 earnings at $1.92 EPS.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, April 23rd. The bank reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.10). The business had revenue of $167.64 million during the quarter, compared to the consensus estimate of $166.37 million. Glacier Bancorp had a return on equity of 11.06% and a net margin of 29.31%.

A number of other brokerages also recently weighed in on GBCI. BidaskClub downgraded Glacier Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, June 26th. Zacks Investment Research downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, DA Davidson upgraded Glacier Bancorp from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $48.00 to $36.00 in a report on Monday, March 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.75.

Shares of GBCI stock opened at $34.61 on Wednesday. The company has a market cap of $3.30 billion, a P/E ratio of 14.66 and a beta of 1.07. The stock has a 50 day simple moving average of $38.79 and a two-hundred day simple moving average of $39.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.85. Glacier Bancorp has a fifty-two week low of $26.66 and a fifty-two week high of $46.54.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, July 6th. This represents a $1.16 annualized dividend and a dividend yield of 3.35%. Glacier Bancorp’s dividend payout ratio is 48.74%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Glacier Bancorp by 5.1% during the first quarter. State Street Corp now owns 3,173,963 shares of the bank’s stock valued at $107,931,000 after acquiring an additional 154,265 shares in the last quarter. State of Tennessee Treasury Department boosted its position in shares of Glacier Bancorp by 57.8% during the first quarter. State of Tennessee Treasury Department now owns 47,401 shares of the bank’s stock valued at $1,612,000 after buying an additional 17,361 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Glacier Bancorp by 45.9% during the first quarter. Coldstream Capital Management Inc. now owns 57,548 shares of the bank’s stock valued at $1,957,000 after buying an additional 18,092 shares during the last quarter. FDx Advisors Inc. purchased a new position in shares of Glacier Bancorp during the first quarter valued at approximately $34,000. Finally, Waddell & Reed Financial Inc. boosted its position in shares of Glacier Bancorp by 13.2% during the first quarter. Waddell & Reed Financial Inc. now owns 597,963 shares of the bank’s stock valued at $20,334,000 after buying an additional 69,879 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.

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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Earnings History and Estimates for Glacier Bancorp (NASDAQ:GBCI)

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