Advantage Alpha Capital Partners LP Has $233,000 Stock Holdings in Glacier Bancorp, Inc. $GBCI

Key Points

• Advantage Alpha Capital Partners LP significantly reduced its stake in Glacier Bancorp, cutting its holdings by 60.8% during the first quarter, now owning 5,258 shares valued at approximately $233,000.
• Several hedge funds increased their positions in Glacier Bancorp, with Millennium Management LLC notably boosting its stake by 4,600.1% in the fourth quarter, now holding 936,079 shares worth $47,010,000.
• Glacier Bancorp recently announced a $0.33 quarterly dividend with an annualized yield of 2.7%, while its earnings per share for the last quarter were $0.45, missing the consensus estimate by $0.04.

Advantage Alpha Capital Partners LP lessened its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 60.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,258 shares of the bank's stock after selling 8,171 shares during the period. Advantage Alpha Capital Partners LP's holdings in Glacier Bancorp were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new stake in Glacier Bancorp during the fourth quarter worth approximately $33,000. JNBA Financial Advisors bought a new stake in Glacier Bancorp during the first quarter worth approximately $35,000. UMB Bank n.a. raised its holdings in Glacier Bancorp by 114.9% during the first quarter. UMB Bank n.a. now owns 838 shares of the bank's stock worth $37,000 after purchasing an additional 448 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Glacier Bancorp by 252.1% during the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock worth $62,000 after purchasing an additional 1,001 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Glacier Bancorp during the fourth quarter worth approximately $146,000. Institutional investors own 80.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GBCI. Piper Sandler lifted their price target on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods lifted their price target on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday. DA Davidson restated a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a research report on Thursday, June 5th. Finally, Raymond James Financial restated an "outperform" rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Glacier Bancorp Stock Down 0.2%

Shares of Glacier Bancorp stock traded down $0.08 on Thursday, hitting $48.47. 163,032 shares of the company traded hands, compared to its average volume of 707,430. The company has a 50-day moving average price of $45.15 and a 200 day moving average price of $43.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. The company has a market cap of $5.75 billion, a PE ratio of 29.04 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the firm earned $0.39 EPS. Sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp's payout ratio is currently 68.75%.

Insiders Place Their Bets

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the transaction, the insider owned 11,918 shares of the company's stock, valued at $527,252.32. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

About Glacier Bancorp

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.