Analysts on Wall Street project that Glacier Bancorp (GBCI) will announce quarterly earnings of $0.61 per share in its forthcoming report, representing an increase of 35.6% year over year. Revenues are projected to reach $257.05 million, increasing 19.6% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 5.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Glacier Bancorp metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'Efficiency Ratio' stands at 61.4%. The estimate is in contrast to the year-ago figure of 64.9%.
The consensus among analysts is that 'Non-accrual loans' will reach $39.57 million. Compared to the present estimate, the company reported $15.94 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Total non-performing assets' of $47.99 million. The estimate is in contrast to the year-ago figure of $28.12 million.
Analysts predict that the 'Average Balances - Total earning assets' will reach $26.86 billion. Compared to the current estimate, the company reported $25.87 billion in the same quarter of the previous year.
It is projected by analysts that the 'Total Non-Interest Income' will reach $34.36 million. The estimate is in contrast to the year-ago figure of $34.70 million.
According to the collective judgment of analysts, 'Net Interest Income' should come in at $222.40 million. The estimate is in contrast to the year-ago figure of $180.23 million.
The combined assessment of analysts suggests that 'Gain on sale of loans' will likely reach $5.16 million. The estimate is in contrast to the year-ago figure of $4.90 million.
Analysts forecast 'Net interest income (tax-equivalent)' to reach $227.81 million. The estimate compares to the year-ago value of $184.23 million.
View all Key Company Metrics for Glacier Bancorp here>>>
Glacier Bancorp shares have witnessed a change of -5.6% in the past month, in contrast to the Zacks S&P 500 composite's +0.4% move. With a Zacks Rank #4 (Sell), GBCI is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Glacier Bancorp, Inc. (GBCI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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