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

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a dividend on Friday, March 29th, investing.com reports. Investors of record on Tuesday, April 9th will be paid a dividend of 0.33 per share by the bank on Thursday, April 18th. This represents a 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 increased its dividend by an average of 3.8% annually over the last three years. Glacier Bancorp has a dividend payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of GBCI opened at $40.28 on Friday. The company has a 50 day moving average of $38.36 and a 200-day moving average of $35.57. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.57 billion, a P/E ratio of 19.83 and a beta of 0.79. Glacier Bancorp has a twelve month low of $26.77 and a twelve month high of $44.06.

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

Institutional Investors Weigh In On Glacier Bancorp

Institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Glacier Bancorp by 35,877.6% in the 4th quarter. Barclays PLC now owns 339,269 shares of the bank’s stock valued at $14,019,000 after acquiring an additional 338,326 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth $86,000. Vanguard Group Inc. raised its stake in Glacier Bancorp by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock valued at $510,312,000 after purchasing an additional 80,251 shares in the last quarter. Profund Advisors LLC raised its stake in Glacier Bancorp by 10.5% in the fourth quarter. Profund Advisors LLC now owns 9,110 shares of the bank’s stock valued at $376,000 after purchasing an additional 867 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Glacier Bancorp by 9.0% during the fourth quarter. Royal Bank of Canada now owns 386,186 shares of the bank’s stock worth $15,958,000 after purchasing an additional 31,800 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GBCI shares. TheStreet upgraded shares of Glacier Bancorp from a “c” rating to a “b-” rating in a research note on Friday, December 1st. Raymond James boosted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Truist Financial increased their target price on Glacier Bancorp from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, January 30th. Finally, StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $38.40.

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.