Clifford Capital Partners LLC Grows Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Clifford Capital Partners LLC boosted its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) 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 %

NASDAQ:GBCI opened at $44.09 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $44.28 and a 200 day simple moving average of $40.10. Glacier Bancorp, Inc. has a one year low of $27.36 and a one year high of $47.71. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 25.19 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) 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.

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.