Keefe, Bruyette & Woods Reacts To Special Dividend For Glacier Bancorp

In a report published Wednesday, Keefe, Bruyette & Woods analyst Jacquelynne Chimera reiterated a Market Perform rating and $31.00 price target on Glacier Bancorp (NASDAQ: GBCI).

In the report, Keefe, Bruyette & Woods noted, “GBCI declared a special dividend of $0.30/share this afternoon (relative to the $0.18/share regular dividend declared earlier this quarter), bringing the total payout ratio to ~65% for 2014, inclusive of our 4Q14 EPS estimate. The dividend is payable 1/22 to shareholders of record on 1/13. While not the first special dividend, the bank has not paid one in quite some time.”

Glacier Bancorp closed on Tuesday at $27.95.