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

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a quarterly dividend on Monday, September 22nd, RTT News reports. Shareholders of record on Tuesday, October 7th will be given a dividend of 0.33 per share by the bank on Thursday, October 16th. This represents a c) annualized dividend and a yield of 2.7%.

Glacier Bancorp has a dividend payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Glacier Bancorp to earn $3.10 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 42.6%.

Glacier Bancorp Price Performance

GBCI opened at $49.65 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp has a 52-week low of $36.76 and a 52-week high of $60.67. The company has a 50 day moving average of $46.77 and a two-hundred day moving average of $43.98. The company has a market cap of $5.89 billion, a P/E ratio of 29.73 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the previous year, the company earned $0.39 EPS. On average, analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Raymond James Financial reissued an “outperform” rating and set a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. DA Davidson reissued a “buy” rating and set a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Janney Montgomery Scott raised shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Thursday, June 5th. Piper Sandler boosted their target price on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

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.