Clark Capital Management Group Inc. Makes New $1.03 Million Investment in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Clark Capital Management Group Inc. purchased a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,447 shares of the bank's stock, valued at approximately $1,027,000.

Other large investors have also modified their holdings of the company. Mather Group LLC. boosted its position in shares of Glacier Bancorp by 97.6% during the 4th quarter. Mather Group LLC. now owns 733 shares of the bank's stock worth $37,000 after purchasing an additional 362 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in Glacier Bancorp in the fourth quarter valued at $63,000. Bridge Generations Wealth Management LLC acquired a new position in Glacier Bancorp in the fourth quarter valued at $70,000. Smartleaf Asset Management LLC increased its stake in shares of Glacier Bancorp by 17.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank's stock worth $144,000 after acquiring an additional 431 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Glacier Bancorp during the fourth quarter worth about $146,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Glacier Bancorp Price Performance

NASDAQ:GBCI traded up $0.02 during midday trading on Thursday, hitting $43.40. 111,803 shares of the stock were exchanged, compared to its average volume of 616,605. Glacier Bancorp, Inc. has a one year low of $34.48 and a one year high of $60.67. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 25.97 and a beta of 0.79. The business has a 50-day moving average price of $42.11 and a two-hundred day moving average price of $48.63. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter in the previous year, the business earned $0.29 EPS. Sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.04%. Glacier Bancorp's payout ratio is presently 70.97%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GBCI shares. Keefe, Bruyette & Woods lowered their price target on shares of Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Raymond James set a $45.00 price target on shares of Glacier Bancorp in a research report on Monday, April 28th. Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Finally, Piper Sandler reduced their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $50.50.

Glacier Bancorp Company 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.