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

Glacier Bancorp, Inc. (NASDAQ:GBCI) announced a quarterly dividend on Tuesday, September 24th, NASDAQ reports. Stockholders of record on Tuesday, October 8th will be paid a dividend of 0.33 per share by the bank on Thursday, October 17th. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Tuesday, October 8th.

Glacier Bancorp has a dividend payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Glacier Bancorp to earn $2.25 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 58.7%.

Glacier Bancorp Trading Up 2.0 %

NASDAQ:GBCI opened at $45.57 on Friday. The company has a market capitalization of $5.17 billion, a P/E ratio of 26.04 and a beta of 0.80. The stock’s 50 day moving average price is $44.26 and its 200 day moving average price is $40.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a 52 week low of $28.55 and a 52 week high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The business had revenue of $306.04 million for the quarter, compared to the consensus estimate of $204.43 million. During the same quarter last year, the firm earned $0.50 EPS. On average, research analysts forecast that Glacier Bancorp will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total value of $250,326.45. Following the completion of the sale, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the completion of the transaction, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the sale, the chief accounting officer now owns 52,539 shares in the company, valued at $2,389,999.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler reissued a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a report on Tuesday, August 27th. Truist Financial raised their target price on shares of Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Raymond James lifted their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.20.

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.