KALISPELL, Mont. - Glacier Bancorp , Inc. (NYSE: NYSE:GBCI), a regional bank holding company headquartered in Montana, announced on Tuesday that its Board of Directors has declared a quarterly dividend of $0.33 per share. This marks the company's 157th consecutive quarterly dividend, maintaining a history of consistent shareholder returns.
The dividend is scheduled to be paid on July 18, 2024, to shareholders of record as of July 9, 2024. Glacier Bancorp has a track record of increasing its dividend, with 49 raises since the company began its dividend program.
Glacier Bancorp, Inc. is the parent company of Glacier Bank and operates through multiple bank divisions across several states, including Altabank, Bank of the San Juans, and others. The company's network spans regions in Montana, Utah, Colorado, Idaho, Wyoming, Nevada, and Arizona.
The announcement of the dividend follows Glacier Bancorp's established pattern of providing returns to its shareholders and reflects the company's financial health and commitment to its dividend policy. The dividend yield and the consistency of payments are often of interest to investors seeking stable income streams.
This dividend declaration is based on a press release statement from Glacier Bancorp, Inc. and serves as a key piece of information for shareholders and potential investors regarding the company's use of capital and ongoing financial strategies.
In other recent news, Glacier Bancorp has been the subject of several analyst reports. Stephens, DA Davidson, and Truist Securities all adjusted their price targets for the company, following its first-quarter results. Stephens and Truist Securities revised their targets to $40.00, while DA Davidson set its target at $45.00. Despite the changes in price targets, all firms maintained their current ratings on the stock.
The adjustments come after Glacier Bancorp exceeded its projected pre-provision net revenue (PPNR) by 1.6% in the first quarter. The company also reported stable credit trends and a slight increase in the net interest margin (NIM). However, there was a noted decrease in organic deposit balances and non-interest bearing deposits.
Analysts from the firms expressed a positive outlook on the NIM expansion and anticipate further growth, given Glacier Bancorp's asset repricing advantages over its peers. This expectation is also supported by the stabilization of funding costs. The upcoming acquisition of six branches from Heartland Financial USA (NASDAQ:HTLF), Inc., is expected to provide extra liquidity and further bolster the NIM.
Despite the optimistic view on NIM expansion, the firms revised their operating earnings per share (EPS) estimates for the coming years. This revision is primarily due to higher anticipated operating expenses and a slight reduction in net interest income (NII) compared to earlier forecasts. The new price targets reflect these updated earnings expectations and market conditions.
InvestingPro Insights
Glacier Bancorp, Inc. (NYSE: GBCI) continues to demonstrate its commitment to shareholders with its impressive history of dividend payments. With a PRONEWS24 promo code, investors can explore additional insights on InvestingPro and benefit from a 10% discount on a yearly or biyearly Pro and Pro+ subscription. Here are some curated insights to provide a deeper understanding of Glacier Bancorp's financial position:
InvestingPro Data highlights a market capitalization of approximately $4.05 billion, with a Price/Earnings (P/E) ratio of 20.56, which adjusts slightly to 20.24 when looking at the last twelve months as of Q1 2024. Despite a challenging environment reflected in a 12.73% revenue decline over the last twelve months, the company has maintained a steady dividend yield of 3.63% as of its last dividend ex-date on April 8, 2024.
An InvestingPro Tip worth noting is the high shareholder yield, which is a testament to Glacier Bancorp's dedication to returning value to its investors. Additionally, while 5 analysts have revised their earnings projections downwards for the upcoming period, the company's track record of 40 consecutive years of dividend payments underscores its financial resilience.
For those interested in further analysis, there are 6 additional InvestingPro Tips available, providing a comprehensive view of Glacier Bancorp's financial health and future prospects. These tips, combined with real-time metrics, can help investors make informed decisions about their investment strategies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.