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Glacier Bancorp (GBCI) Announces Dividend Hike: Worth a Look?

Zacks Equity Research

Glacier Bancorp, Inc. GBCI has raised its quarterly common stock dividend by about 3.8% to 27 cents per share. The dividend will be paid on Jul 18, to shareholders of record as of Jul 9, 2019. Notably, this is the 44th time that the company has increased its dividend.

Glacier Bancorp’s robust business model highlights the company’s commitment toward returning value to shareholders with its strong cash-generation capabilities. Prior to this revision, the company had raised its quarterly dividend to 26 cents per share last June, marking a 13% hike.

Considering last day’s closing price of $39.56 per share, the dividend yield is currently valued at 2.73%.

Investors interested in this Zacks Rank #2 (Buy) stock can have a look at the bank’s fundamentals and growth prospects. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Strong Organic Growth: Glacier Bancorp’s revenues witnessed 10.8% compounded annual growth rate (CAGR) over the last five years, ending 2018. The company’s projected sales growth (F1/F0) of 12.29% highlights continued upward momentum in revenues.

Earnings Per Share Strength: The banking firm has witnessed earnings growth of 8.38% over the last three-five years. This earnings momentum is likely to continue in the near term as reflected by the company’s projected earnings per share (EPS) growth rate (F1/F0) of 11.98%. Additionally, the company’s long-term (three-five years) estimated EPS growth rate of 10% promises rewards for investors over the long run.

Share Price Movement: Glacier Bancorp’s shares have gained around 1% in the past six months compared with 8.3% growth recorded by the industry.



Superior Return on Equity (ROE): Glacier Bancorp’s ROE of 12.83%, compared with the industry average of 11.8%, indicates the company’s commendable position over its peers.

Some other finance stocks which raised their dividends during the current quarter include Lazard Ltd. LAZ, Main Street Capital Corporation MAIN and First Midwest Bancorp FMBI.  Lazard raised its quarterly dividend by 7%, while First Midwest Bancorp increased by 17%. Also, Main Street Capital has announced a 2.5% rise in its common stock dividend.

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First Midwest Bancorp, Inc. (FMBI) : Free Stock Analysis Report
 
Glacier Bancorp, Inc. (GBCI) : Free Stock Analysis Report
 
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Main Street Capital Corporation (MAIN) : Free Stock Analysis Report
 
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