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

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased 6,184 shares of Glacier Bancorp, Inc., valued at approximately $273,000, during the 1st quarter of the year.
• Glacier Bancorp recently reported a Q2 EPS of $0.45, missing estimates by $0.04, with analysts forecasting a total of 2.45 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.33, which corresponds to an annualized dividend yield of 2.9% and a payout ratio of 68.75%.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,184 shares of the bank's stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new position in shares of Glacier Bancorp in the fourth quarter valued at approximately $33,000. JNBA Financial Advisors bought a new position in shares of Glacier Bancorp in the first quarter valued at approximately $35,000. UMB Bank n.a. boosted its holdings in shares of Glacier Bancorp by 114.9% in the first quarter. UMB Bank n.a. now owns 838 shares of the bank's stock valued at $37,000 after acquiring an additional 448 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Glacier Bancorp by 252.1% in the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock valued at $62,000 after acquiring an additional 1,001 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Glacier Bancorp in the fourth quarter valued at approximately $146,000. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Trading Up 0.9%

GBCI stock traded up $0.45 during mid-day trading on Tuesday, reaching $48.55. 856,576 shares of the stock traded hands, compared to its average volume of 711,858. 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, Inc. has a 52-week low of $36.76 and a 52-week high of $60.67. The company has a market cap of $5.76 billion, a P/E ratio of 29.07 and a beta of 0.79. The stock's fifty day moving average is $44.99 and its 200-day moving average is $43.96.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp's dividend payout ratio is currently 68.75%.

Insider Buying and Selling

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the sale, the insider directly owned 11,918 shares of the company's stock, valued at approximately $527,252.32. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GBCI. Keefe, Bruyette & Woods increased their price objective on shares of Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a report on Friday, June 27th. Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target for the company in a report on Thursday, June 5th. DA Davidson reissued a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a report on Wednesday, June 25th. Piper Sandler upped their price target on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.00.

About Glacier Bancorp

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.