Glacier Bancorp Bumps Up Quarterly Dividend For The 47th Time


Glacier Bancorp raised its quarterly cash dividend by 3.3% to $0.31 per share. This marks the commercial bank’s 47th dividend increase.

Glacier Bancorp (GBCI) announced that the new dividend will be paid on April 22 to shareholders of record as of April 13.

The company’s annual dividend of $1.24 per share now reflects a dividend yield of 2.17%.

In January, Glacier Bancorp reported 4Q results. The company’s 4Q earnings climbed 39% year-over-year to $0.86 per share and outpaced Street estimates of $0.74. Total revenues increased 27.7% to $210.5 million. Net interest margin came in at 4.03%, down 42 basis points. (See Glacier Bancorp stock analysis on TipRanks)

On Feb. 19, Stephens analyst Andrew Terrell initiated coverage of the stock with a Hold rating and a price target of $56.

According to Terrell, the bank has several favorable aspects, which include a business model that reflects stronger loan pricing and below-peer deposit costs. He further believes that the current valuation reflects that the bank is well-positioned from a geographic perspective and that Glacier “is likely the acquirer of choice in most of the Western markets.”

The consensus rating on the stock is a Hold, based on 2 Holds. The average analyst price target stands at $56 and implies downside potential of 1.9% to current levels. Shares have gained 25.1% so far this year.

TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Glacier Bancorp is currently Neutral, as 3 hedge funds increased their cumulative holdings of the stock by 67,200 shares in the last quarter.

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