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

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a quarterly dividend on Wednesday, March 26th, RTT News reports. Investors of record on Tuesday, April 8th will be paid a dividend of 0.33 per share by the bank on Thursday, April 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%.

Glacier Bancorp has increased its dividend payment by an average of 1.3% per year over the last three years. Glacier Bancorp has a payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

GBCI stock traded up $0.05 during midday trading on Wednesday, reaching $45.29. The company had a trading volume of 594,366 shares, compared to its average volume of 673,591. The firm has a market capitalization of $5.14 billion, a PE ratio of 27.12 and a beta of 0.77. The stock has a 50 day moving average price of $48.35 and a 200 day moving average price of $49.89. Glacier Bancorp has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GBCI shares. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods raised their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James reiterated an “outperform” rating and issued a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Piper Sandler reduced their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.50.

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.