Glacier Bancorp, Inc. (NASDAQ:GBCI) Increases Dividend to $0.33 Per Share

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a dividend on Friday, March 29th, investing.com reports. Stockholders of record on Tuesday, April 9th will be given a dividend of 0.33 per share by the bank on Thursday, April 18th. This represents a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, April 8th. This is a boost from Glacier Bancorp’s previous dividend of $0.10.

Glacier Bancorp has raised its dividend payment by an average of 3.8% per year over the last three years. Glacier Bancorp has a payout ratio of 55.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Glacier Bancorp to earn $2.39 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 55.2%.

Glacier Bancorp Stock Up 1.1 %

GBCI stock opened at $40.28 on Friday. The business’s 50-day moving average is $38.36 and its two-hundred day moving average is $35.57. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 19.83 and a beta of 0.79. Glacier Bancorp has a fifty-two week low of $26.77 and a fifty-two week high of $44.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Friday, January 26th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.08. Glacier Bancorp had a net margin of 19.63% and a return on equity of 7.59%. The company had revenue of $197.32 million during the quarter, compared to analyst estimates of $198.32 million. During the same period in the previous year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. As a group, analysts forecast that Glacier Bancorp will post 1.83 earnings per share for the current year.

Institutional Trading of Glacier Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its position in shares of Glacier Bancorp by 1,498.3% during the 3rd quarter. Barclays PLC now owns 943 shares of the bank’s stock worth $27,000 after buying an additional 884 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Glacier Bancorp during the 2nd quarter valued at about $37,000. State of Wyoming raised its holdings in shares of Glacier Bancorp by 57.7% in the 2nd quarter. State of Wyoming now owns 1,568 shares of the bank’s stock valued at $49,000 after purchasing an additional 574 shares in the last quarter. Covestor Ltd lifted its position in shares of Glacier Bancorp by 115.0% in the 1st quarter. Covestor Ltd now owns 1,045 shares of the bank’s stock worth $53,000 after purchasing an additional 559 shares during the period. Finally, KBC Group NV purchased a new position in Glacier Bancorp during the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

GBCI has been the topic of a number of recent research reports. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Truist Financial boosted their target price on shares of Glacier Bancorp from $43.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, January 30th. Raymond James raised their target price on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, TheStreet upgraded Glacier Bancorp from a “c” rating to a “b-” rating in a report on Friday, December 1st. 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.40.

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.