Glacier Bancorp, Inc. (NASDAQ: GBCI) declared a dividend on Friday October 1, invest.com reports. Shareholders of record on Monday October 11 will receive a dividend of 0.32 per share from the bank on Thursday October 21. This represents a yield of 2.31%. The ex-dividend date is Friday October 8. This is a positive change from Glacier Bancorp’s previous dividend of $ 0.30.
Glacier Bancorp has increased its dividend by 40.5% over the past three years and has increased its dividend annually for the past 24 consecutive years. Glacier Bancorp has a payout ratio of 45.1%, which indicates that its dividend is sufficiently covered by earnings. Research analysts expect Glacier Bancorp to earn $ 2.86 per share next year, which means the company should continue to be able to hedge its annual dividend of $ 1.23 with a rate of expected future distribution of 43.0%.
Glacier Bancorp stock traded up $ 0.64 at midday on Friday, reaching $ 55.99. The company had a trading volume of 719,725 shares, compared to its average volume of 395,013. The stock’s 50-day simple moving average is $ 52.50 and its 200-day simple moving average is 55 , $ 93. The company has a market cap of $ 5.35 billion, a P / E ratio of 16.62 and a beta of 1.02. Glacier Bancorp has a one-year low at $ 31.50 and a one-year high at $ 67.35. The company has a debt ratio of 0.07, a current ratio of 0.69, and a quick ratio of 0.68.
Glacier Bancorp (NASDAQ: GBCI) last released its results on Wednesday, July 21. The bank reported EPS of $ 0.81 for the quarter, beating the Zacks’ consensus estimate of $ 0.73 by $ 0.08. The company posted revenue of $ 190.99 million for the quarter, compared to a consensus estimate of $ 199.14 million. Glacier Bancorp had a net margin of 38.58% and a return on equity of 13.81%. The company’s revenue for the quarter increased 0.8% from the same quarter last year. In the same quarter of last year, the company posted EPS of $ 0.66. On average, stock analysts forecast Glacier Bancorp to post 2.84 EPS for the current fiscal year.
Several analysts have commented on the title. Truist raised its target price on Glacier Bancorp stock from $ 60.00 to $ 64.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Securities raised its price target for Glacier Bancorp shares from $ 60.00 to $ 64.00 and gave the company a “buy” rating in a research note on Tuesday. Three research analysts rated the stock with a conservation rating and two gave the company’s stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $ 57.50.
In related news, the president Craig A. Langel acquired 15,000 shares of the company in a transaction on Wednesday July 28. The shares were acquired at an average cost of $ 51.55 per share, for a total transaction of $ 773,250.00. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the shares are currently held by company insiders.
An institutional investor recently increased its position in the shares of Glacier Bancorp. Morgan Stanley increased its position in shares of Glacier Bancorp, Inc. (NASDAQ: GBCI) by 101.9% in the second quarter, according to the company in its latest Form 13F filed with the Securities and Exchange Commission. The institutional investor held 382,837 shares of the bank after purchasing an additional 193,191 shares during the period. Morgan Stanley owned 0.40% of Glacier Bancorp for a value of $ 21,086,000 at the end of the most recent quarter. Hedge funds and other institutional investors hold 71.90% of the company’s shares.
About Glacier Bancorp
Glacier Bancorp, Inc is a banking holding company which provides commercial banking services. It operates through the following segments: residential real estate loans, home equity loans and other consumer loans. It provides retail banking, investment banking, real estate, commercial, agricultural and consumer lending, and mortgage origination services.
Featured Article: Market Timing – The Pros and the Dangers
This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Glacier Bancorp now?
Before you consider Glacier Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes over … and Glacier Bancorp was not on the list.
While Glacier Bancorp currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here