Glacier Bancorp said on March 29, 2023 that its board of directors declared a regular quarterly dividend of $0.33 per share ($1.32 annualized). Previously, the company paid $0.33 per share.
Shares must be purchased before the ex-div date of April 10, 2023 to qualify for the dividend. Shareholders of record as of April 11, 2023 will receive the payment on April 20, 2023.
At the current share price of $42.76 / share, the stock's dividend yield is 3.09%. Looking back five years and taking a sample every week, the average dividend yield has been 3.07%, the lowest has been 2.09%, and the highest has been 4.71%. The standard deviation of yields is 0.49 (n=236).
The current dividend yield is 0.03 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.48. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.03%.
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Analyst Price Forecast Suggests 18.59% Upside
As of March 30, 2023, the average one-year price target for Glacier Bancorp is $50.71. The forecasts range from a low of $45.45 to a high of $57.75. The average price target represents an increase of 18.59% from its latest reported closing price of $42.76.
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The projected annual revenue for Glacier Bancorp is $928MM, an increase of 4.85%. The projected annual non-GAAP EPS is $3.20.
What is the Fund Sentiment?
There are 711 funds or institutions reporting positions in Glacier Bancorp. This is an increase of 22 owner(s) or 3.19% in the last quarter. Average portfolio weight of all funds dedicated to GBCI is 0.23%, a decrease of 17.44%. Total shares owned by institutions increased in the last three months by 0.51% to 96,522K shares. The put/call ratio of GBCI is 0.48, indicating a bullish outlook.
What are Large Shareholders Doing?
Neuberger Berman Group holds 4,295K shares representing 3.87% ownership of the company. In it's prior filing, the firm reported owning 4,249K shares, representing an increase of 1.08%. The firm decreased its portfolio allocation in GBCI by 99.95% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,421K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 3,237K shares, representing an increase of 5.37%. The firm decreased its portfolio allocation in GBCI by 7.22% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,375K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 3,333K shares, representing an increase of 1.23%. The firm decreased its portfolio allocation in GBCI by 5.94% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,854K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 2,812K shares, representing an increase of 1.45%. The firm decreased its portfolio allocation in GBCI by 5.51% over the last quarter.
Silvercrest Asset Management Group holds 2,705K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 2,775K shares, representing a decrease of 2.59%. The firm decreased its portfolio allocation in GBCI by 8.38% over the last quarter.
Glacier Bancorp Background Information
(This description is provided by the company.)
Glacier Bancorp, Inc., a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions: Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d'Alene, ID), North Cascades Bank (Chelan, WA), The Foothills Bank (Yuma, AZ), Valley Bank of Helena (Helena, MT), and Western Security Bank (Billings, MT).
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
