Glacier Bancorp, Inc. Plans Quarterly Dividend of $0.26 (GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) declared a quarterly dividend on Wednesday, September 26th, RTT News reports. Shareholders of record on Tuesday, October 9th will be given a dividend of 0.26 per share by the bank on Thursday, October 18th. This represents a $1.04 annualized dividend and a yield of 2.42%.
Glacier Bancorp has increased its dividend by an average of 7.3% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Glacier Bancorp has a payout ratio of 47.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Glacier Bancorp to earn $2.45 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 42.4%.
NASDAQ:GBCI traded down $0.76 during mid-day trading on Wednesday, hitting $42.99. The company had a trading volume of 334,900 shares, compared to its average volume of 366,212. Glacier Bancorp has a fifty-two week low of $35.50 and a fifty-two week high of $46.28. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.00 and a beta of 1.43.
Several research firms have weighed in on GBCI. Zacks Investment Research raised Glacier Bancorp from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, July 25th. BidaskClub raised Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. ValuEngine raised Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $44.00 price target on shares of Glacier Bancorp in a research report on Monday, July 23rd. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $44.00 price target on shares of Glacier Bancorp in a research report on Friday, July 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.50.
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 deposit products, including non-interest bearing deposits, interest bearing 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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