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

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Wednesday, June 25th, Wall Street Journal reports. Shareholders 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 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 1.7%

NASDAQ:GBCI opened at $42.88 on Thursday. 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 PE ratio of 25.68 and a beta of 0.77. The firm’s 50 day moving average is $41.63 and its 200 day moving average is $45.66. Glacier Bancorp has a 12 month low of $35.26 and a 12 month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share 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 business earned $0.29 earnings per share. Sell-side analysts expect that Glacier Bancorp will post 2.45 earnings per share for the current year.

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of GBCI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Glacier Bancorp by 8.0% during 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 valued at $15,587,000 after acquiring an additional 26,157 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Glacier Bancorp by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock valued at $59,799,000 after purchasing an additional 73,756 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Glacier Bancorp by 30.9% in the 1st quarter. AQR Capital Management LLC now owns 31,176 shares of the bank’s stock valued at $1,358,000 after purchasing an additional 7,359 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GBCI has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price objective 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. Raymond James Financial set a $45.00 target price on shares of Glacier Bancorp in a research note on Monday, April 28th. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. DA Davidson reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday. Finally, Janney Montgomery Scott raised shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Thursday, June 5th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.