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

Man Group plc bought a new position in Glacier Bancorp, Inc. (NYSE:GBCI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,172 shares of the company’s stock, valued at approximately $886,000.

Several other institutional investors also recently bought and sold shares of GBCI. Jupiter Topco LLC purchased a new stake in shares of Glacier Bancorp in the second quarter valued at $48,377,000. Hsbc Holdings PLC acquired a new stake in shares of Glacier Bancorp in the second quarter worth approximately $260,000. Legal & General Group Plc purchased a new stake in Glacier Bancorp in the second quarter valued at approximately $9,236,000. The Manufacturers Life Insurance Company acquired a new position in Glacier Bancorp during the second quarter worth approximately $14,849,000. Finally, Front Street Capital Management Inc. acquired a new position in shares of Glacier Bancorp in the 2nd quarter valued at $986,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Craig Langel bought 2,250 shares of Glacier Bancorp stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of $47.04 per share, with a total value of $105,840.00. Following the completion of the transaction, the chairman owned 98,684 shares in the company, valued at approximately $4,642,095.36. This trade represents a 2.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $46.37 on Friday. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $54.58. The company has a market cap of $6.04 billion, a PE ratio of 19.00 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $49.84 and its 200-day simple moving average is $48.11.

Glacier Bancorp (NYSE:GBCI) last posted its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. The business had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same quarter last year, the business posted $0.57 EPS. As a group, equities research analysts anticipate that Glacier Bancorp, Inc. will post 3.11 EPS for the current year.

Glacier Bancorp Announces Dividend

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

Analyst Ratings Changes

GBCI has been the subject of several research reports. DA Davidson reissued a “buy” rating and set a $58.00 price objective on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Glacier Bancorp has an average rating of “Moderate Buy” and a consensus price target of $55.17.

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.