Glacier Bancorp ticks up after first dividend hike since 2022

Regional lender Glacier Bancorp's GBCI.N shares rose 0.5% to $44.40 in afternoon trading.

GBCI late Tuesday lifted its quarterly dividend to 35 cents per share from 33 cents, marking its first hike since 2022.

"With capital solid and profitability having sharply rebounded alongside net interest margin expansion, we had believed incremental capital return would come back into the GBCI narrative. This dividend highlights GBCI's improved positioning and confidence in the outlook," KBW analyst Kelly Motta said.

Five of six brokerages rate the stock "buy" or higher and one rates it "hold"; the median price target is $56.50, according to data compiled by LSEG.

As of the last close, GBCI stock was flat year to date.