Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Neo Ivy Capital Management

Neo Ivy Capital Management lowered its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 49.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 17,238 shares of the bank’s stock after selling 17,054 shares during the period. Neo Ivy Capital Management’s holdings in Glacier Bancorp were worth $865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $56,923,000. Madison Investment Advisors LLC purchased a new position in Glacier Bancorp during the fourth quarter worth approximately $47,770,000. Millennium Management LLC grew its holdings in Glacier Bancorp by 4,600.1% in the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock valued at $47,010,000 after purchasing an additional 916,163 shares during the period. JPMorgan Chase & Co. increased its position in shares of Glacier Bancorp by 76.0% in the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock valued at $28,192,000 after buying an additional 242,414 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $9,544,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 1.1%

Shares of Glacier Bancorp stock opened at $40.70 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $41.73 and its 200-day simple moving average is $48.14. The stock has a market cap of $4.62 billion, a P/E ratio of 24.37 and a beta of 0.79. Glacier Bancorp, Inc. has a 1-year low of $34.48 and a 1-year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter last year, the company earned $0.29 EPS. Analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio is currently 70.97%.

Analyst Ratings Changes

Several research firms have issued reports on GBCI. Piper Sandler decreased their price objective on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Raymond James set a $45.00 price objective on Glacier Bancorp in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.50.

Glacier Bancorp Company Profile

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.