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

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

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

Shares of NASDAQ:GBCI traded up $0.73 during trading on Wednesday, reaching $42.88. The company had a trading volume of 1,192,419 shares, compared to its average volume of 651,093. Glacier Bancorp has a 12 month low of $35.26 and a 12 month 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 stock has a market capitalization of $4.87 billion, a P/E ratio of 25.68 and a beta of 0.77. The company has a fifty day moving average of $41.56 and a two-hundred day moving average of $45.68.

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

Institutional Trading of Glacier Bancorp

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GBCI. DA Davidson restated a "buy" rating and issued a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday. Keefe, Bruyette & Woods dropped their target price on Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a research note on Thursday, June 5th. Stephens raised Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Raymond James Financial set a $45.00 target price on shares of Glacier Bancorp in a research note on Monday, April 28th. Three equities research 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $50.00.

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.

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