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

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Tuesday, December 5th will be given a dividend of 0.33 per share by the bank on Thursday, December 14th. This represents a $1.32 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, December 4th.

Glacier Bancorp has increased its dividend by an average of 6.0% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Glacier Bancorp has a dividend payout ratio of 72.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Glacier Bancorp to earn $1.81 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 72.9%.

Glacier Bancorp Stock Performance

NASDAQ GBCI traded up $0.10 on Friday, hitting $33.68. 528,582 shares of the stock traded hands, compared to its average volume of 695,758. The business’s fifty day moving average is $29.97 and its two-hundred day moving average is $30.94. Glacier Bancorp has a 12 month low of $26.77 and a 12 month high of $58.84. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 14.99 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.72 and a current ratio of 0.72.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Friday, October 20th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $295.15 million during the quarter, compared to analyst estimates of $197.37 million. Glacier Bancorp had a return on equity of 8.58% and a net margin of 22.89%. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp will post 1.92 EPS for the current fiscal year.

Institutional Trading of Glacier Bancorp

Large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Glacier Bancorp by 2.9% in the 1st quarter. BlackRock Inc. now owns 13,765,767 shares of the bank’s stock worth $578,300,000 after acquiring an additional 388,578 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Glacier Bancorp by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,281,413 shares of the bank’s stock worth $554,256,000 after acquiring an additional 155,648 shares in the last quarter. State Street Corp raised its position in shares of Glacier Bancorp by 12.1% in the 2nd quarter. State Street Corp now owns 5,281,795 shares of the bank’s stock worth $164,634,000 after acquiring an additional 568,105 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Glacier Bancorp by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,323,749 shares of the bank’s stock worth $97,622,000 after acquiring an additional 100,095 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Glacier Bancorp by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 2,231,239 shares of the bank’s stock worth $93,734,000 after acquiring an additional 65,836 shares in the last quarter. 76.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GBCI has been the topic of a number of recent analyst reports. Raymond James increased their price objective on Glacier Bancorp from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. DA Davidson increased their price objective on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Friday, November 3rd. Truist Financial increased their price objective on Glacier Bancorp from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, October 23rd. Finally, Piper Sandler lowered their price objective on Glacier Bancorp from $34.00 to $31.00 in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Glacier Bancorp presently has an average rating of “Hold” and a consensus price target of $33.80.

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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.