Glacier Bancorp, Inc. (NASDAQ:GBCI) Increases Dividend to $0.27 Per Share

Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Tuesday, June 25th, RTT News reports. Stockholders of record on Tuesday, July 9th will be given a dividend of 0.27 per share by the bank on Thursday, July 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, July 8th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.26.

Glacier Bancorp has raised its dividend by an average of 10.4% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Glacier Bancorp has a dividend payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Glacier Bancorp to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 42.5%.

NASDAQ GBCI opened at $41.14 on Friday. Glacier Bancorp has a 12 month low of $36.84 and a 12 month high of $47.67. The company’s 50-day moving average is $40.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $3.56 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.70 and a beta of 1.18.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). Glacier Bancorp had a net margin of 31.38% and a return on equity of 12.83%. The company had revenue of $143.69 million for the quarter, compared to analyst estimates of $148.14 million. On average, analysts expect that Glacier Bancorp will post 2.42 EPS for the current fiscal year.

A number of research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. SunTrust Banks set a $45.00 price objective on shares of Glacier Bancorp and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, BidaskClub downgraded shares of Glacier Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.80.

In related news, Director David C. Boyles sold 25,399 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $40.32, for a total transaction of $1,024,087.68. Following the completion of the sale, the director now owns 1,218 shares of the company’s stock, valued at approximately $49,109.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

About Glacier Bancorp

Glacier Bancorp, Inc operates as the 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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

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Dividend History for Glacier Bancorp (NASDAQ:GBCI)

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