Connor Clark & Lunn Investment Management Ltd. Buys Shares of 6,184 Glacier Bancorp, Inc. $GBCI

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,184 shares of the bank’s stock, valued at approximately $273,000.

Several other hedge funds have also recently made changes to their positions in GBCI. Wood Tarver Financial Group LLC bought a new stake in shares of Glacier Bancorp in the fourth quarter valued at $33,000. JNBA Financial Advisors bought a new stake in shares of Glacier Bancorp in the first quarter valued at $35,000. UMB Bank n.a. raised its stake in shares of Glacier Bancorp by 114.9% during the 1st quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock valued at $37,000 after purchasing an additional 448 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Glacier Bancorp by 252.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,001 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at $146,000. 80.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Lee Kenneth Groom sold 800 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $44.24, for a total value of $35,392.00. Following the completion of the transaction, the insider directly owned 11,918 shares in the company, valued at approximately $527,252.32. This represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $46.0090 on Thursday. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67. The business has a 50-day simple moving average of $44.47 and a 200 day simple moving average of $44.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 27.55 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same period in the previous year, the firm earned $0.39 EPS. On average, research analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp’s dividend payout ratio is presently 68.75%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price objective (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Piper Sandler boosted their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods boosted their price objective on Glacier Bancorp from $50.00 to $52.00 and gave the company a “market perform” rating in a research note on Friday, June 27th. Janney Montgomery Scott upgraded Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday, June 5th. Finally, DA Davidson reiterated a “buy” rating and set a $50.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Glacier Bancorp Profile

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.