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

Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) announced a quarterly dividend on Wednesday, June 25th, Wall Street Journal reports. Stockholders of record on Tuesday, July 8th will be given a dividend of 0.33 per share by the bank on Thursday, July 17th. This represents a $1.32 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Tuesday, July 8th.

Glacier Bancorp has a dividend payout ratio of 45.2% indicating that 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 Price Performance

GBCI stock traded down $0.72 during trading on Friday, hitting $42.91. 1,896,105 shares of the stock traded hands, compared to its average volume of 653,938. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 25.69 and a beta of 0.77. Glacier Bancorp has a one year low of $35.57 and a one year high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a 50 day simple moving average of $41.78 and a 200 day simple moving average of $45.41.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the business earned $0.29 earnings per share. Equities analysts expect that Glacier Bancorp will post 2.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Glacier Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in Glacier Bancorp by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank's stock worth $59,799,000 after purchasing an additional 73,756 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Glacier Bancorp by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the bank's stock valued at $15,587,000 after purchasing an additional 26,157 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Glacier Bancorp by 30.9% during the 1st quarter. AQR Capital Management LLC now owns 31,176 shares of the bank's stock worth $1,358,000 after buying an additional 7,359 shares during the period. Institutional investors own 80.17% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GBCI. Raymond James Financial reaffirmed an "outperform" rating and set a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a report on Thursday. Janney Montgomery Scott upgraded Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a research note on Thursday, June 5th. Stephens upgraded shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a report on Friday. Finally, DA Davidson reaffirmed a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Glacier Bancorp has a consensus rating of "Moderate Buy" and an average price target of $50.83.

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.