Stifel Lowers Estimates On Glacier Bancorp (GBCI)
Symbols: GBCI
Stifel Nicolaus has a Hold rating on shares of Glacier Bancorp (NASDAQ: GBCI), but as a result of a secondary offering, which raised $132 million in common stock, the firm has lowered their 2009 and 2010 EPS estimates. Stifel's revised 2009 EPS is $0.65, down from $0.69 and the 2010 EPS estimate was lowered from $1.13 to $1.02. As a result of this transaction, however, Stifel believes that GBCI's balance sheet has been enhanced.
Glacier Bancorp, Inc. is a regional multi-bank holding company providing commercial banking services from 106 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington.
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