Neo Ivy Capital Management Makes New $1.57 Million Investment in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Neo Ivy Capital Management purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,292 shares of the bank’s stock, valued at approximately $1,568,000.

A number of other hedge funds have also recently added to or reduced their stakes in GBCI. Thrivent Financial for Lutherans boosted its stake in Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after buying an additional 280,255 shares during the last quarter. Millennium Management LLC boosted its stake in Glacier Bancorp by 131.9% in the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after buying an additional 271,398 shares during the last quarter. Sei Investments Co. boosted its stake in Glacier Bancorp by 123.9% in the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after buying an additional 183,757 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in Glacier Bancorp by 145.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after buying an additional 182,600 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Glacier Bancorp by 187.1% in the 2nd quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock worth $9,442,000 after purchasing an additional 164,897 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GBCI shares. Piper Sandler raised their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Raymond James raised their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Truist Financial raised their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.83.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $55.63 on Wednesday. The company has a market cap of $6.31 billion, a P/E ratio of 34.34 and a beta of 0.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. Glacier Bancorp, Inc. has a one year low of $34.35 and a one year high of $60.67. The business’s 50-day simple moving average is $52.45 and its 200 day simple moving average is $45.16.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same period last year, the business posted $0.47 EPS. On average, sell-side analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.37%. Glacier Bancorp’s payout ratio is 81.48%.

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.