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

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Wednesday, November 20th,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 raised its dividend by an average of 3.8% annually over the last three years. Glacier Bancorp has a payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Glacier Bancorp stock traded up $1.55 during midday trading on Thursday, reaching $57.39. 338,214 shares of the stock traded hands, compared to its average volume of 646,820. The stock has a market cap of $6.51 billion, a P/E ratio of 35.48 and a beta of 0.77. The stock’s fifty day moving average is $49.21 and its 200-day moving average is $43.39. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp has a 12 month low of $32.00 and a 12 month high of $59.19.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same period last year, the firm posted $0.47 earnings per share. As a group, equities research analysts anticipate that Glacier Bancorp will post 1.7 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Truist Financial lifted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Piper Sandler raised 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.