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

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Tuesday, June 25th, Wall Street Journal reports. Stockholders of record on Tuesday, July 9th will be given a dividend of 0.33 per share by the bank on Thursday, July 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Tuesday, July 9th.

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 57.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Glacier Bancorp to earn $2.30 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 57.4%.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI traded up $0.29 during midday trading on Wednesday, hitting $35.95. The company’s stock had a trading volume of 463,372 shares, compared to its average volume of 645,359. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s 50 day simple moving average is $37.11 and its 200 day simple moving average is $38.39. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 20.55 and a beta of 0.80. Glacier Bancorp has a fifty-two week low of $26.83 and a fifty-two week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The company had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Glacier Bancorp will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of recent research reports. Stephens dropped their target price on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Truist Financial cut their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday, April 22nd. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. Finally, DA Davidson dropped their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.40.

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.