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

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Monday, September 22nd, RTT News reports. Investors of record on Tuesday, October 7th will be paid a dividend of 0.33 per share by the bank on Thursday, October 16th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 7th.

Glacier Bancorp has a dividend payout ratio of 45.2% meaning 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 Stock Up 2.0%

Shares of Glacier Bancorp stock opened at $48.27 on Friday. 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 $47.39 and a 200 day moving average of $44.23. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5.72 billion, a P/E ratio of 28.90 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 posted $0.39 earnings per share. As a group, research analysts forecast that Glacier Bancorp will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GBCI. DA Davidson reiterated a “buy” rating and issued a $50.00 price target on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods lifted their price target on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Piper Sandler lifted their price target on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

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.