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

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a quarterly dividend on Tuesday, September 24th, NASDAQ reports. Stockholders of record on Tuesday, October 8th will be paid a dividend of 0.33 per share by the bank on Thursday, October 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Tuesday, October 8th.

Glacier Bancorp has a dividend payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Glacier Bancorp to earn $2.25 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 58.7%.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $45.57 on Monday. The firm has a fifty day simple moving average of $44.26 and a two-hundred day simple moving average of $40.26. Glacier Bancorp has a twelve month low of $28.55 and a twelve month high of $47.71. The company has a market capitalization of $5.17 billion, a PE ratio of 26.04 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The company had revenue of $306.04 million during the quarter, compared to analyst estimates of $204.43 million. During the same quarter in the previous year, the company posted $0.50 EPS. Research analysts expect that Glacier Bancorp will post 1.62 EPS for the current year.

Insider Buying and Selling

In other news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total transaction of $250,326.45. Following the sale, the director now owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the completion of the transaction, the director now owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total value of $45,490.00. Following the sale, the chief accounting officer now owns 52,539 shares in the company, valued at $2,389,999.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GBCI shares. Raymond James increased their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial increased their price target on shares of Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, Piper Sandler restated a “neutral” rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One research 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. Based on data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and a consensus target price of $44.20.

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.