The Manufacturers Life Insurance Company Invests $14.85 Million in Glacier Bancorp, Inc. $GBCI

The Manufacturers Life Insurance Company acquired a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 287,884 shares of the company’s stock, valued at approximately $14,849,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. grew its stake in Glacier Bancorp by 33.9% during the first quarter. Assetmark Inc. now owns 813 shares of the company’s stock worth $36,000 after purchasing an additional 206 shares during the period. Front Street Capital Management Inc. lifted its stake in Glacier Bancorp by 1.1% in the fourth quarter. Front Street Capital Management Inc. now owns 19,335 shares of the company’s stock valued at $852,000 after buying an additional 213 shares during the period. MML Investors Services LLC boosted its holdings in shares of Glacier Bancorp by 4.6% during the 4th quarter. MML Investors Services LLC now owns 5,047 shares of the company’s stock worth $222,000 after buying an additional 221 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after buying an additional 223 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Glacier Bancorp by 1.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,413 shares of the company’s stock worth $855,000 after buying an additional 225 shares during the period. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $46.95 on Friday. Glacier Bancorp, Inc. has a one year low of $39.90 and a one year high of $54.58. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 19.24 and a beta of 0.74. The business has a 50-day simple moving average of $50.15 and a 200 day simple moving average of $48.30. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84.

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

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is presently 54.10%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GBCI shares. DA Davidson reiterated a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research note 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.