Glacier Bancorp, Inc. (NYSE:GBCI) Shares to Pay Quarterly Dividend of $0.35

Glacier Bancorp, Inc. (NYSE:GBCI) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Tuesday, December 8th will be given a dividend of $0.35 per share on Thursday, December 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, December 8th.

Glacier Bancorp has a payout ratio of 47.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Glacier Bancorp to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 38.9%.

Glacier Bancorp Trading Down 0.6%

NYSE:GBCI opened at $48.50 on Thursday. Glacier Bancorp has a 12-month low of $39.90 and a 12-month high of $54.58. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $45.67 and its 200-day simple moving average is $47.73. The firm has a market cap of $6.32 billion, a P/E ratio of 17.68 and a beta of 0.77.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.02. Glacier Bancorp had a return on equity of 8.38% and a net margin of 21.24%. The firm had revenue of $333.42 million during the quarter. During the same period in the prior year, the business earned $0.57 earnings per share. Equities analysts anticipate that Glacier Bancorp will post 3.11 EPS for the current year.

Insiders Place Their Bets

In other Glacier Bancorp news, Chairman Craig Langel bought 2,250 shares of the company’s stock in a transaction on Friday, August 28th. The shares were bought at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the transaction, the chairman owned 98,684 shares of the company’s stock, valued at approximately $4,642,095.36. This trade represents a 2.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

A number of large investors have recently modified their holdings of GBCI. Legal & General Group Plc purchased a new stake in shares of Glacier Bancorp in the second quarter valued at approximately $9,236,000. Bank of America Corp DE purchased a new position in Glacier Bancorp in the second quarter worth $62,719,000. NFJ Investment Group LLC purchased a new position in Glacier Bancorp in the second quarter worth $40,129,000. Bridge City Capital LLC raised its position in Glacier Bancorp by 16.3% in the third quarter. Bridge City Capital LLC now owns 189,680 shares of the company’s stock worth $8,194,000 after acquiring an additional 26,621 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Glacier Bancorp by 55.4% in the second quarter. Wellington Management Group LLP now owns 106,943 shares of the company’s stock valued at $5,516,000 after acquiring an additional 38,145 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

About Glacier Bancorp

Glacier Bancorp, Inc. is a bank holding company headquartered in Kalispell, Montana. Through its community banking subsidiaries, it provides personal and business banking services, including checking and savings accounts, loans, mortgages, and online banking. The company serves customers across Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada. Its network of regional banks combines local operations with the resources of a larger banking organization. Glacier’s roots trace to Glacier Bank, which was established in Montana in 1955.