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

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders 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 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 payment 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 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 Price Performance

NASDAQ:GBCI traded up $1.64 during midday trading on Thursday, hitting $57.48. The company had a trading volume of 280,587 shares, compared to its average volume of 645,467. Glacier Bancorp has a 52-week low of $32.00 and a 52-week high of $59.19. The stock’s fifty day moving average price is $49.21 and its 200-day moving average price is $43.39. The company has a market capitalization of $6.52 billion, a PE ratio of 34.47 and a beta of 0.77. 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 (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts expect that Glacier Bancorp will post 1.7 earnings per share for the current year.

Wall Street Analyst Weigh In

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