287,884 Shares in Glacier Bancorp, Inc. $GBCI Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 287,884 shares of Glacier Bancorp during the second quarter, valued at approximately $14.85 million and representing about 0.22% of the company. Institutional investors collectively own 80.17% of GBCI.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $55.17; DA Davidson set a $58 target.
• Glacier Bancorp reported second-quarter EPS of $0.76, matching estimates, on $320.94 million in revenue. The company also pays a quarterly dividend of $0.33 per share, equivalent to a 2.8% annual yield.

The Manufacturers Life Insurance Company acquired a new stake in Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 287,884 shares of the company's stock, valued at approximately $14,849,000. The Manufacturers Life Insurance Company owned about 0.22% of Glacier Bancorp at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GBCI. Root Financial Partners LLC increased its holdings in shares of Glacier Bancorp by 122.5% during the first quarter. Root Financial Partners LLC now owns 652 shares of the company's stock worth $29,000 after buying an additional 359 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Glacier Bancorp in the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock valued at $31,000 after acquiring an additional 490 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company's stock valued at $34,000 after acquiring an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Glacier Bancorp during the 4th quarter worth $35,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings upgraded Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. DA Davidson restated a "buy" rating and set a $58.00 price target on shares of Glacier Bancorp in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.17.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $46.95 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a twelve month low of $39.90 and a twelve month high of $54.58. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 19.24 and a beta of 0.74. The company's fifty day moving average is $50.15 and its 200 day moving average is $48.30.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period in the prior year, the business earned $0.57 earnings per share. Sell-side analysts forecast that Glacier Bancorp, Inc. will post 3.11 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp's dividend payout ratio is currently 54.10%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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