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

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a quarterly dividend on Tuesday, June 25th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, July 9th.

Glacier Bancorp has raised its dividend by an average of 3.8% annually over the last three years. Glacier Bancorp has a dividend 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 Up 0.8 %

Shares of NASDAQ:GBCI traded up $0.29 on Wednesday, hitting $35.95. 463,372 shares of the company traded hands, compared to its average volume of 645,359. The stock has a 50 day simple moving average of $37.11 and a 200-day simple moving average of $38.39. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.08 billion, a PE ratio of 20.55 and a beta of 0.80. Glacier Bancorp has a 52 week low of $26.83 and a 52 week high of $44.06.

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

Wall Street Analysts Forecast Growth

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

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.