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

Neo Ivy Capital Management bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,292 shares of the bank's stock, valued at approximately $1,568,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Glacier Bancorp in the second quarter valued at approximately $25,000. GAMMA Investing LLC raised its stake in Glacier Bancorp by 60.4% in the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank's stock valued at $115,000 after purchasing an additional 947 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Glacier Bancorp by 44.8% in the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank's stock valued at $137,000 after purchasing an additional 927 shares in the last quarter. Wolverine Trading LLC purchased a new position in shares of Glacier Bancorp during the third quarter worth approximately $205,000. Finally, Intech Investment Management LLC purchased a new position in shares of Glacier Bancorp during the second quarter worth approximately $207,000. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Performance

NASDAQ:GBCI traded up $1.31 during trading hours on Wednesday, reaching $56.94. The company had a trading volume of 163,218 shares, compared to its average volume of 636,861. The firm's 50 day moving average price is $52.45 and its 200-day moving average price is $45.16. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 34.34 and a beta of 0.79. Glacier Bancorp, Inc. has a 52 week low of $34.35 and a 52 week high of $60.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

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

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, December 10th. Glacier Bancorp's dividend payout ratio is presently 81.48%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James lifted their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Truist Financial lifted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Piper Sandler lifted their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $48.83.

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.