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Glacier Bancorp Shares Up 4.8% on Dividend Hike: Worth a Look?
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Glacier Bancorp, Inc. (GBCI - Free Report) has raised its quarterly common stock dividend by 3.4% to 30 cents per share. The dividend will be paid on Oct 22, to shareholders of record as of Oct 13, 2020. Notably, this is the 46th time that the company has increased its dividend. Following the announcement, the company’s shares have rallied 4.8%.
Glacier Bancorp’s robust business model highlights the company’s commitment toward returning value to shareholders with its strong cash-generation capabilities. Prior to the latest revision, the company had raised its quarterly dividend to 29 cents per share last September, marking a 7.41% hike.
Considering last day’s closing price of $33.59 per share, the dividend yield is currently valued at 3.45%.
We believe, despite active competition, the company has a significant long-term upside potential based on its focused diversified portfolios, style consistency and fundamental research.
Stellar Organic Growth: Glacier Bancorp’s revenues witnessed 12.8% compounded annual growth rate (CAGR) over the last five years, ending 2019. The company’s projected sales growth (F1/F0) of 15.37% (compared with the nil industry average) highlights continued upward momentum in revenues.
Earnings Per Share Strength: The banking firm has witnessed earnings growth of 12.82% 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 3.78%. Additionally, the company recorded an average positive earnings surprise of 6.8%, over the trailing four quarters.
Share Price Movement: Glacier Bancorp’s shares have remained stable in the past six months compared with 16.7% growth recorded by the industry.
Superior Return on Equity (ROE): Glacier Bancorp’s ROE of 10.82%, compared with the industry average of 9.31%, indicates the company’s commendable position over its peers.
Strong Leverage: Glacier Bancorp’s debt/equity ratio is 0.10 compared with the industry average of 0.17, reflecting a relatively lower debt burden. It highlights the company’s financial stability even in an unstable economic environment.
Some other finance stocks which raised their dividends during the current year include Bank OZK (OZK - Free Report) , Independent Bank Corp. (INDB - Free Report) and Fifth Third Bancorp (FITB - Free Report) . Bank OZK raised its quarterly dividend by 3.8%, while Independent Bank Corp. increased by 4.5%. Also, Fifth Third has announced a 12.5% rise in its common stock dividend.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Glacier Bancorp Shares Up 4.8% on Dividend Hike: Worth a Look?
Glacier Bancorp, Inc. (GBCI - Free Report) has raised its quarterly common stock dividend by 3.4% to 30 cents per share. The dividend will be paid on Oct 22, to shareholders of record as of Oct 13, 2020. Notably, this is the 46th time that the company has increased its dividend. Following the announcement, the company’s shares have rallied 4.8%.
Glacier Bancorp’s robust business model highlights the company’s commitment toward returning value to shareholders with its strong cash-generation capabilities. Prior to the latest revision, the company had raised its quarterly dividend to 29 cents per share last September, marking a 7.41% hike.
Considering last day’s closing price of $33.59 per share, the dividend yield is currently valued at 3.45%.
We believe, despite active competition, the company has a significant long-term upside potential based on its focused diversified portfolios, style consistency and fundamental research.
Investors interested in this Zacks Rank #3 (Hold) 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.
Stellar Organic Growth: Glacier Bancorp’s revenues witnessed 12.8% compounded annual growth rate (CAGR) over the last five years, ending 2019. The company’s projected sales growth (F1/F0) of 15.37% (compared with the nil industry average) highlights continued upward momentum in revenues.
Earnings Per Share Strength: The banking firm has witnessed earnings growth of 12.82% 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 3.78%. Additionally, the company recorded an average positive earnings surprise of 6.8%, over the trailing four quarters.
Share Price Movement: Glacier Bancorp’s shares have remained stable in the past six months compared with 16.7% growth recorded by the industry.
Superior Return on Equity (ROE): Glacier Bancorp’s ROE of 10.82%, compared with the industry average of 9.31%, indicates the company’s commendable position over its peers.
Strong Leverage: Glacier Bancorp’s debt/equity ratio is 0.10 compared with the industry average of 0.17, reflecting a relatively lower debt burden. It highlights the company’s financial stability even in an unstable economic environment.
Some other finance stocks which raised their dividends during the current year include Bank OZK (OZK - Free Report) , Independent Bank Corp. (INDB - Free Report) and Fifth Third Bancorp (FITB - Free Report) . Bank OZK raised its quarterly dividend by 3.8%, while Independent Bank Corp. increased by 4.5%. Also, Fifth Third has announced a 12.5% rise in its common stock dividend.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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