Connor Clark & Lunn Investment Management Ltd. Buys 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. bought a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) 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 - Get Free Report) 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.

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