Man Group plc Takes Position in Glacier Bancorp, Inc. $GBCI

Man Group plc purchased a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,172 shares of the company’s stock, valued at approximately $886,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GBCI. BlackRock Inc. purchased a new stake in shares of Glacier Bancorp during the 2nd quarter worth $913,766,000. State Street Corp increased its holdings in shares of Glacier Bancorp by 9.9% in the 4th quarter. State Street Corp now owns 6,178,363 shares of the company’s stock valued at $272,157,000 after purchasing an additional 557,873 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Glacier Bancorp by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after purchasing an additional 237,316 shares during the period. Cooke & Bieler LP lifted its stake in shares of Glacier Bancorp by 5.3% in the fourth quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company’s stock valued at $134,323,000 after purchasing an additional 154,595 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Glacier Bancorp by 16.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,845,069 shares of the company’s stock worth $125,328,000 after buying an additional 402,939 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. DA Davidson reiterated a “buy” rating and set a $58.00 price target on shares of Glacier Bancorp in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

Insider Transactions at Glacier Bancorp

In related news, Chairman Craig Langel bought 2,250 shares of the stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the acquisition, the chairman owned 98,684 shares in the company, valued at $4,642,095.36. This represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Glacier Bancorp Trading Down 0.1%

NYSE:GBCI opened at $46.37 on Friday. The company has a market capitalization of $6.04 billion, a PE ratio of 19.00 and a beta of 0.72. 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 52-week low of $39.90 and a 52-week high of $54.58. The stock has a fifty day simple moving average of $49.84 and a 200-day simple moving average of $48.11.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The firm had revenue of $320.94 million for the quarter. During the same period in the previous year, the company posted $0.57 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given 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 payout ratio is currently 54.10%.

About Glacier Bancorp

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.