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

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

Shares of GBCI stock opened at $45.57 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 26.04 and a beta of 0.80. Glacier Bancorp has a one year low of $28.55 and a one year high of $47.71. The company’s 50-day moving average is $44.26 and its 200 day moving average is $40.26.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler reissued a “neutral” rating and issued a $38.00 target price on shares of Glacier Bancorp in a report on Tuesday, August 27th. Truist Financial increased their price objective on Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, Raymond James boosted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.20.

Insider Activity

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

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.