Glacier Bancorp Hits New 52-Week High - Analyst Blog

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Shares of Glacier Bancorp Inc. ( GBCI ) 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.

Growth Drivers

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 Bancorp.

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. ( CPF ), TriCo Bancshares ( TCBK ) and  Preferred Bank ( PFBC ), all of which carry  a Zacks Rank #1 (Strong Buy).



CENTRAL PAC FIN (CPF): Free Stock Analysis Report

GLACIER BANCORP (GBCI): Free Stock Analysis Report

PREFERRED BANK (PFBC): Free Stock Analysis Report

TRICO BANCSHRS (TCBK): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: CPF , GBCI , PFBC , TCBK

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