Glacier Bancorp, Inc. Announces Quarterly Dividend of $0.33 (NASDAQ:GBCI)

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Tuesday, December 10th will be given a dividend of 0.33 per share by the bank on Thursday, December 19th. This represents a $1.32 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, December 10th.

Glacier Bancorp has increased its dividend by an average of 3.8% per year over the last three years. Glacier Bancorp has a dividend payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Glacier Bancorp to earn $2.46 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 53.7%.

Glacier Bancorp Stock Up 2.9 %

Shares of GBCI traded up $1.64 during midday trading on Thursday, hitting $57.48. The stock had a trading volume of 280,587 shares, compared to its average volume of 645,467. The company has a 50 day simple moving average of $49.21 and a two-hundred day simple moving average of $43.39. Glacier Bancorp has a twelve month low of $32.00 and a twelve month high of $59.19. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 34.47 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, analysts anticipate that Glacier Bancorp will post 1.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GBCI. Truist Financial boosted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Piper Sandler boosted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Raymond James boosted their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the bank 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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.