Connor Clark & Lunn Investment Management Ltd. Takes Position in Glacier Bancorp, Inc. $GBCI

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,295 shares of the company’s stock, valued at approximately $3,419,000. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Glacier Bancorp as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $913,766,000. Norges Bank bought a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $67,582,000. Madison Asset Management LLC acquired a new stake in Glacier Bancorp in the 2nd quarter valued at $59,048,000. Bank of New York Mellon Corp acquired a new stake in Glacier Bancorp in the 2nd quarter valued at $55,775,000. Finally, Vanguard Group Inc. grew its position in Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after acquiring an additional 870,335 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GBCI shares. DA Davidson reissued a “buy” rating and set a $58.00 price objective on shares of Glacier Bancorp in a report on Monday, July 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.17.

Glacier Bancorp Stock Performance

NYSE:GBCI opened at $46.95 on Friday. The stock has a market capitalization of $6.11 billion, a P/E ratio of 19.24 and a beta of 0.74. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $54.58. The firm has a 50 day moving average of $50.15 and a 200-day moving average of $48.30.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The business had revenue of $320.94 million for the quarter. During the same quarter last year, the company earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is presently 54.10%.

Glacier Bancorp Profile

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.