Clifford Capital Partners LLC boosted its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) by 40.9% during the second quarter, HoldingsChannel.com reports. The firm owned 422,951 shares of the bank’s stock after acquiring an additional 122,842 shares during the period. Glacier Bancorp comprises approximately 3.4% of Clifford Capital Partners LLC’s holdings, making the stock its 11th biggest holding. Clifford Capital Partners LLC’s holdings in Glacier Bancorp were worth $15,785,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Creative Planning raised its position in shares of Glacier Bancorp by 12.2% in the 2nd quarter. Creative Planning now owns 36,792 shares of the bank’s stock worth $1,373,000 after buying an additional 4,009 shares during the period. Algert Global LLC purchased a new stake in Glacier Bancorp during the second quarter worth approximately $426,000. The Manufacturers Life Insurance Company increased its position in shares of Glacier Bancorp by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 138,527 shares of the bank’s stock worth $5,170,000 after acquiring an additional 2,002 shares in the last quarter. Millennium Management LLC raised its stake in shares of Glacier Bancorp by 131.9% in the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after acquiring an additional 271,398 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Glacier Bancorp by 14.3% during the 2nd quarter. AQR Capital Management LLC now owns 13,007 shares of the bank’s stock valued at $476,000 after acquiring an additional 1,627 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.
Insider Buying and Selling at Glacier Bancorp
In related news, Director Annie M. Goodwin sold 5,619 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the sale, the director now owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the completion of the transaction, the director now directly owns 9,402 shares in the company, valued at $418,859.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Don J. Chery sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total value of $45,490.00. Following the completion of the sale, the chief accounting officer now owns 52,539 shares in the company, valued at $2,389,999.11. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
Glacier Bancorp Stock Down 3.5 %
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The business had revenue of $306.04 million for the quarter, compared to analyst estimates of $204.43 million. During the same period in the prior year, the company posted $0.50 EPS. Sell-side analysts predict that Glacier Bancorp, Inc. will post 1.62 EPS for the current fiscal year.
Glacier Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. Glacier Bancorp’s dividend payout ratio is currently 75.43%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on GBCI. Truist Financial increased their target price on Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, September 20th. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.80.
Check Out Our Latest Stock Analysis on Glacier Bancorp
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.
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