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 shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,447 shares of the bank’s stock, valued at approximately $1,027,000.

Several other large investors have also recently modified their holdings of GBCI. Deutsche Bank AG increased its stake in Glacier Bancorp by 49.3% during the 4th quarter. Deutsche Bank AG now owns 98,924 shares of the bank’s stock valued at $4,968,000 after purchasing an additional 32,678 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Glacier Bancorp by 21.1% during the fourth quarter. Captrust Financial Advisors now owns 30,762 shares of the bank’s stock valued at $1,545,000 after buying an additional 5,369 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Glacier Bancorp by 323.2% during the fourth quarter. Baird Financial Group Inc. now owns 5,205 shares of the bank’s stock valued at $261,000 after buying an additional 3,975 shares during the last quarter. BNP Paribas purchased a new position in Glacier Bancorp in the 4th quarter worth approximately $1,134,000. Finally, Ameriprise Financial Inc. raised its holdings in Glacier Bancorp by 57.8% in the 4th quarter. Ameriprise Financial Inc. now owns 287,123 shares of the bank’s stock worth $14,419,000 after acquiring an additional 105,153 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Down 0.4 %

Glacier Bancorp stock opened at $42.16 on Friday. Glacier Bancorp, Inc. has a one year low of $34.48 and a one year high of $60.67. The stock has a fifty day moving average of $42.23 and a 200 day moving average of $48.72. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $4.79 billion, a PE ratio of 25.25 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the company posted $0.29 earnings per share. As a group, sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio is presently 70.97%.

Analyst Upgrades and Downgrades

GBCI has been the subject of a number of research analyst reports. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods reduced their price objective on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Raymond James set a $45.00 target price on Glacier Bancorp in a research report on Monday, April 28th. Finally, Piper Sandler dropped their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Glacier Bancorp presently has an average rating of “Hold” and a consensus price target of $50.50.

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.