Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) declared a quarterly dividend on Friday, September 30th, investing.com reports. Shareholders of record on Tuesday, October 11th will be given a dividend of 0.33 per share by the bank on Thursday, October 20th. This represents a $1.32 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, October 7th. This is a positive change from Glacier Bancorp's previous quarterly dividend of $0.10.
Glacier Bancorp has increased its dividend payment by an average of 2,574.3% per year over the last three years and has raised its dividend every year for the last 11 years.
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Glacier Bancorp Price Performance
NASDAQ:GBCI opened at $49.13 on Friday. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 19.27 and a beta of 0.81. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.27. The company's 50-day moving average is $51.18 and its two-hundred day moving average is $49.13. Glacier Bancorp has a 12-month low of $44.43 and a 12-month high of $60.69.
Glacier Bancorp (NASDAQ:GBCI – Get Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.69 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.69. The company had revenue of $221.72 million for the quarter, compared to analyst estimates of $225.85 million. Glacier Bancorp had a net
margin of 30.72% and a return on equity of 9.50%. During the same period in the prior year, the firm earned $0.81 EPS. Research analysts expect that Glacier Bancorp will post 2.81 EPS for the current year.
Analyst Ratings Changes
Separately, Truist Financial increased their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, September 14th.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of GBCI. State Street Corp lifted its holdings in shares of Glacier Bancorp by 7.8% during the 1st quarter. State Street Corp now owns 4,807,832 shares of the bank's stock worth $241,738,000 after acquiring an additional 346,492 shares during the period. Eaton Vance Management increased its position in Glacier Bancorp by 19.3% during the 1st quarter. Eaton Vance Management now owns 896,974 shares of the bank's stock worth $45,100,000 after purchasing an additional 145,421 shares in the last quarter. Vanguard Group Inc. increased its position in Glacier Bancorp by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,944,370 shares of the bank's stock worth $550,283,000 after purchasing an additional 96,588 shares in the last quarter. Invesco Ltd. increased its position in Glacier Bancorp by 8.4% during the 1st quarter. Invesco Ltd. now owns 599,956 shares of the bank's stock worth $30,166,000 after purchasing an additional 46,628 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Glacier Bancorp during the 2nd quarter worth approximately $1,735,000. 69.88% of the stock is currently owned by hedge funds and other institutional investors.
About Glacier Bancorp
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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. 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 deposit, negotiated-rate jumbo certificates, and individual retirement accounts.
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