Glacier Bancorp Inc.
) achieved a new 52-week high, touching $20.83 at the beginning
of the trading session on Jun 17. The closing price of this
regional bank reflects a solid year-to-date return of 35.9%. The
trading volume for the session was 2.7 million shares.
Despite the strong price appreciation, this Zacks Rank #3 (Hold)
stock has plenty of upside left, given its strong estimate
revisions over the last 60 days as well as expected
year-over-year earnings growth of 14.3% for 2013.
Impressive first-quarter 2013 results - including lower expenses,
higher non-interest income, healthy balance sheet and solid
capital position - as well as strong capital deployment
activities have been the primary growth drivers for Glacier
First-quarter 2013 earnings (released on Apr 18) came in at 29
cents per share, up from the year-ago quarter number of 23 cents.
Moreover, earnings beat the Zacks Consensus Estimate by a cent.
Additionally, Glacier Bancorp has delivered positive earnings
surprises over the last 4 quarters, with an average beat of 4.8%.
Estimate Revisions Show Potency
For Glacier Bancorp, over the last 60 days, 3 out of 7 estimates
for 2013 have been revised upward, raising the Zacks Consensus
Estimate by 1.8% to $1.20 per share. For 2014 as well, 3 out of 7
estimates moved upward over the same time period, lifting the
Zacks Consensus Estimate by 0.8% to $1.33 per share.
Better performing financial stocks include
Central Pacific Financial Corp.
), all of which carry a Zacks Rank #1 (Strong Buy).
CENTRAL PAC FIN (CPF): Free Stock Analysis
GLACIER BANCORP (GBCI): Free Stock Analysis
PREFERRED BANK (PFBC): Free Stock Analysis
TRICO BANCSHRS (TCBK): Free Stock Analysis
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