KALISPELL, Mont. - Glacier Bancorp , Inc. (NYSE: NYSE:GBCI) has announced a quarterly dividend of $0.33 per share, continuing its long-standing history of shareholder payouts. The dividend declared on Wednesday is in line with the company's practice of returning value to its shareholders, marking the 159th consecutive quarterly dividend issued by the banking institution. The upcoming dividend is scheduled to be paid on December 19, 2024, to shareholders who are on record as of December 10, 2024.
The announcement reflects Glacier Bancorp's consistent performance, as the company has increased its dividend 49 times since its inception. This regular increase in dividends underscores the company's financial health and commitment to its shareholders.
Glacier Bancorp serves as the parent company to Glacier Bank and its numerous divisions, which include a range of banking institutions across the United States. The company's portfolio of banks spans several states, providing a broad array of financial services to its customers. The divisions include well-known regional banks such as Altabank, Bank of the San Juans, and First Security Bank, among others.
This dividend declaration is based on a press release statement from Glacier Bancorp, Inc. and is intended to provide shareholders with information regarding the distribution of profits in the form of dividends. It is a testament to the company's stable financial position and its ability to maintain a regular dividend policy.
Investors in Glacier Bancorp, Inc. can anticipate the dividend payout in mid-December, which aligns with the company’s established pattern of quarterly distributions. The financial institution's track record of consistent dividends may be of interest to investors seeking regular income from their equity investments.
Glacier Bancorp's operation across a network of banks demonstrates its expansive reach in the financial sector, which supports its dividend-paying capability. The company’s declaration of its latest dividend is based on its financial policies and shareholder value proposition, as evidenced by its history of consecutive quarterly dividends.
In other recent news, Glacier Bancorp has announced changes in its executive leadership, with Ryan Screnar and Lee Groom taking up new roles. The company has also reported a strong financial performance, with earnings and net income increasing by 15% and 14% respectively in the third quarter, largely due to the successful acquisition of six Montana branches from Heartland Financial (NASDAQ:HTLF) and a significant expansion in the loan portfolio.
Analyst firms Piper Sandler and Truist Securities have revised their outlooks on Glacier Bancorp, citing core deposit strength, potential for mergers and acquisitions, and favorable loan repricing. The company also plans to close and convert two additional acquisitions in 2024, adding around $1.2 billion in assets.
Furthermore, the bank's third-quarter performance saw a 15% increase in earnings per share and a 14% rise in net income. These recent developments also include a healthy increase in core deposits and non-interest income.
Despite potential slowdowns in the fourth quarter and lighter organic growth, Glacier Bancorp's financial metrics reflect a solid performance. It's also worth noting that approximately 7% of the loan portfolio is indexed to prime, with expectations for increased loan yields due to re-pricing dynamics. These are the recent developments for Glacier Bancorp.
InvestingPro Insights
Glacier Bancorp's recent dividend announcement aligns with its impressive track record of shareholder returns. According to InvestingPro data, the company boasts a dividend yield of 2.36% as of the latest available information. More notably, an InvestingPro Tip reveals that Glacier Bancorp has maintained dividend payments for 40 consecutive years, underscoring its commitment to consistent shareholder value.
The company's financial performance has been robust, with a market capitalization of $6.33 billion and a P/E ratio of 34.4. This valuation metric suggests that investors are willing to pay a premium for Glacier Bancorp's shares, possibly due to its strong dividend history and market position.
InvestingPro Tips also highlight that Glacier Bancorp has shown strong returns over various time frames, including the last month, three months, and year. This positive momentum is reflected in the stock's price performance, with a remarkable 71.36% total return over the past year.
While the company's revenue for the last twelve months stood at $780.33 million, it's worth noting that there has been a slight decline of 5.06% in revenue growth. However, the quarterly revenue growth of 7.43% as of Q3 2024 indicates a potential turnaround in the short term.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights beyond what's mentioned here. In fact, there are 11 more InvestingPro Tips available for Glacier Bancorp, which could provide valuable context for understanding the company's financial health and future prospects.
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