Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Glacier Bancorp, Inc. $GBCI

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

Several other institutional investors have also recently bought and sold shares of GBCI. AQR Capital Management LLC boosted its position in Glacier Bancorp by 30.9% in the 1st quarter. AQR Capital Management LLC now owns 31,176 shares of the company’s stock valued at $1,358,000 after buying an additional 7,359 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Glacier Bancorp by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company’s stock worth $59,799,000 after acquiring an additional 73,756 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Glacier Bancorp by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company’s stock valued at $15,587,000 after acquiring an additional 26,157 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after acquiring an additional 490 shares during the period. Finally, First Trust Advisors LP bought a new position in Glacier Bancorp in the second quarter valued at about $2,011,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Down 0.7%

Shares of Glacier Bancorp stock opened at $46.95 on Friday. The business has a fifty day simple moving average of $50.15 and a 200 day simple moving average of $48.30. The stock has a market cap of $6.11 billion, a PE ratio of 19.24 and a beta of 0.74. 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 12 month low of $39.90 and a 12 month high of $54.58.

Glacier Bancorp (NYSE:GBCI) last released its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The firm had revenue of $320.94 million for the quarter. During the same period in the previous year, the company posted $0.57 EPS. Research analysts predict that Glacier Bancorp, Inc. will post 3.11 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 54.10%.

Wall Street Analysts Forecast Growth

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

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.