Glacier Bancorp, Inc. (NASDAQ:GBCI) to Issue $0.33 Quarterly Dividend

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Investors of record on Tuesday, December 10th will be paid a dividend of 0.33 per share by the bank on Thursday, December 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Tuesday, December 10th.

Glacier Bancorp has raised its dividend by an average of 3.8% per year over the last three years. Glacier Bancorp has a payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. 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 2.8 %

GBCI traded up $1.55 on Thursday, hitting $57.39. The company had a trading volume of 338,214 shares, compared to its average volume of 646,820. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 35.48 and a beta of 0.77. The stock has a fifty day moving average price of $49.21 and a 200-day moving average price of $43.39. Glacier Bancorp has a 12-month low of $32.00 and a 12-month high of $59.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly 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 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 quarter in the prior year, the business posted $0.47 EPS. Analysts predict that Glacier Bancorp will post 1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of research analyst reports. Piper Sandler increased their target price on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Truist Financial lifted their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Raymond James upped their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. One investment 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. According to MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $46.20.

About Glacier Bancorp

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.