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Glacier (NasdaqGS:GBCI) Q3 2020 Earnings Preview

in EARNINGS/INVESTING IDEAS by

Glacier Bancorp, Inc. (NasdaqGS:GBCI) is scheduled to report Q3 earnings results after markets close for trading on October 22, 2020.

The company is expected to report earnings of $0.64/share on revenue of $194.3 million. The consensus earnings per share (EPS) of $0.64/share is based on a poll of 6 analysts and represents a growth in eps of 1.1% over the same quarter last year, when the company reported earnings of $0.63/share.

The revenue forecast of $194.3 million based on a poll of 4 analysts implies a year-over-year (YoY) growth in revenue of 20.9%. Last year the company reported $160.7 million in revenue for the quarter.

Expected to report EPS growth of 1.1% for Q3, 2020
Metric Expected Prior Year YoY Change
Revenue $194.32 $160.69 20.9%
EPS $0.64 $0.63 1.1%

Earnings Call Trends

Historically, management has exceeded analyst expectations 5 out of the last 8 tracked quarters, missed 2 quarters, and met expectations 1 quarters.

What are your expectations from Glacier Bancorp, Inc. for earnings this quarter? Let us know in the comments!

Analyst Expected vs. Reported EPS
Quarter Expected Reported Surprise Result
Q2, 2020 $0.50 $0.70 40.1% Beat
Q1, 2020 $0.52 $0.47 −10.3% Missed
Q4, 2019 $0.61 $0.65 6.9% Beat
Q3, 2019 $0.60 $0.63 5.5% Beat
Q2, 2019 $0.60 $0.63 3.7% Beat
Q1, 2019 $0.57 $0.58 1.5% Beat
Q4, 2018 $0.61 $0.59 −2.9% Missed
Q3, 2018 $0.60 $0.60 0.0% Met

In the following table, we summarize the company’s stock price movements after earnings releases. The “Price Day Prior” column shows the closing stock price on the day before the earnings report, and the “Price Next Day” column shows the stock price at the end of the trading day after the earnings report. After the last earnings report for the period ending June 30, 2020, the stock price reacted by increasing 3.5%.

Stock Price Performance After Earnings
Report Date Price Day Prior Price Next Day Change % Result
July 23, 2020 $34.86 $36.08 3.5% Increase
April 23, 2020 $31.98 $32.91 2.9% Increase
January 23, 2020 $44.32 $44.01 −0.7% Decline
October 17, 2019 $40.44 $42.30 4.6% Increase

Fundamentals And Technical Analysis

Glacier Bancorp, Inc. is currently trading at $34.66/share, down −1.1% for the day. The company is trading at approximately 74.5% of its 52-week high of $46.54/share. The company’s stock price is down −3.9% since the last earnings report and down −0.1% over the previous week.

The company’s 14 Day Relative Price Index (RSI) of 50.31 suggests the company is trading in technically neutral territory. The RSI is considered overbought when above 70 and oversold when below 30.


NasdaqGS:GBCI Stock Price Chart
Source: Finbox

The current share price implies a price-to-earnings (P/E) multiple of 15.32 and a forward P/E multiple of 14.66.

Glacier Bancorp, Inc.’s current share price also implies a price-to-book (P/B) multiple of 1.50. The following table summarizes some other key fundamental ratios:

Data as of October 20, 2020
Metric Value
Last Reported Fiscal Period Key FY2020.Q2
Period End Date June 30, 2020
Stock Price (Current) $34.66
P/E Ratio 15.3x
P/E Ratio (Fwd) 14.7x
PEG Ratio −9.3
Total Debt / Total Capital 25.4%
Levered Free Cash Flow $268.8 million
Price To Sales 5x

Finbox

Glacier Bancorp, Inc. is a mid-cap stock with a market capitalization of $3.307 billion. The company operates in the Financials sector and the Banks industry.

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. The company also provides construction and permanent loans on residential real estate; consumer land or lot acquisition loans; unimproved land and land development loans; and residential builder guidance lines comprising pre-sold and spec-home construction, and lot acquisition loans. In addition, it offers commercial real estate loans to purchase, construct, and finance commercial real estate properties; consumer loans secured by real estate, automobiles, or other assets; second mortgage loans; municipal loans; home equity loans consisting of 1-4 family junior lien mortgages, and first and junior lien lines of credit secured by residential real estate; and agriculture loans. Further, the company provides mortgage origination services. Glacier Bancorp, Inc. has 181 locations, including 164 branches and 17 loan or administration offices in 66 counties within 8 states comprising Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada. The company was incorporated in 2004 and is headquartered in Kalispell, Montana.

Expertise: financial modeling, mergers & acquisitions. Andy is also a founder at finbox.io, where he’s focused on building tools that make it faster and easier for investors to do investment research. Andy’s background is in investment banking where he led the analysis on over 50 board advisory engagements involving mergers and acquisitions, fairness opinions and solvency opinions. Some of his board advisory highlights: - Sears Holdings Corp.’s $620 mm spin-off via rights offering of Sears Outlet, Hometown Stores and Sears Hardware Stores. - Cerberus Capital Management’s $3.3 bn acquisition of SUPERVALU Inc.’s New Albertsons, Inc. assets. Andy can be reached at andy@finbox.io or at +1 (516) 778-6257.

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