Glacier Bancorp, Inc. (NYSE:GBCI) Shareholders to Get $0.35 Quarterly Dividend

Key Points

• Glacier Bancorp declared a $0.35 per-share quarterly dividend, equivalent to $1.40 annually and a 2.9% yield. Shareholders of record December 8 are scheduled to be paid December 17.
• The dividend appears supported by earnings: the current payout ratio is 47.9%, and the article cites an expected future payout ratio of 38.9% based on next year’s estimated $3.60 EPS.
• In its latest reported quarter, Glacier Bancorp earned $0.81 per share, topping the $0.79 analyst consensus, and reported revenue of $333.42 million.

Glacier Bancorp, Inc. (NYSE:GBCI - Get Free Report) announced a quarterly dividend on Wednesday, November 11th. Shareholders of record on Tuesday, December 8th will be paid a dividend of $0.35 per share on Thursday, December 17th. This represents a $1.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, December 8th.

Glacier Bancorp has a payout ratio of 47.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Glacier Bancorp to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 38.9%.

Glacier Bancorp Price Performance

Shares of NYSE GBCI opened at $48.50 on Thursday. The stock's 50-day moving average is $45.67 and its two-hundred day moving average is $47.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.85 and a quick ratio of 0.84. Glacier Bancorp has a 1-year low of $39.90 and a 1-year high of $54.58. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 17.68 and a beta of 0.77.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.02. Glacier Bancorp had a return on equity of 8.38% and a net margin of 21.24%. The business had revenue of $333.42 million during the quarter. During the same quarter in the previous year, the business posted $0.57 EPS. Analysts forecast that Glacier Bancorp will post 3.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Craig Langel acquired 2,250 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $47.04 per share, with a total value of $105,840.00. Following the completion of the acquisition, the chairman owned 98,684 shares of the company's stock, valued at $4,642,095.36. The trade was a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors have recently modified their holdings of GBCI. GW&K Investment Management LLC increased its stake in Glacier Bancorp by 12.1% in the third quarter. GW&K Investment Management LLC now owns 1,511,059 shares of the company's stock valued at $65,278,000 after purchasing an additional 162,987 shares during the period. Public Sector Pension Investment Board acquired a new stake in shares of Glacier Bancorp during the third quarter worth about $2,755,000. First Eagle Investment Management LLC acquired a new stake in shares of Glacier Bancorp during the third quarter worth about $18,198,000. Hantz Financial Services Inc. grew its holdings in shares of Glacier Bancorp by 26.0% during the third quarter. Hantz Financial Services Inc. now owns 10,851 shares of the company's stock worth $469,000 after buying an additional 2,239 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Glacier Bancorp by 47.5% during the third quarter. Allworth Financial LP now owns 1,308 shares of the company's stock worth $57,000 after buying an additional 421 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

About Glacier Bancorp

Glacier Bancorp, Inc. is a bank holding company headquartered in Kalispell, Montana. Through its community banking subsidiaries, it provides personal and business banking services, including checking and savings accounts, loans, mortgages, and online banking. The company serves customers across Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada. Its network of regional banks combines local operations with the resources of a larger banking organization. Glacier's roots trace to Glacier Bank, which was established in Montana in 1955.

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