Neo Ivy Capital Management Lowers Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Neo Ivy Capital Management cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 49.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mather Group LLC. increased its position in shares of Glacier Bancorp by 97.6% during the fourth quarter. Mather Group LLC. now owns 733 shares of the bank's stock worth $37,000 after acquiring an additional 362 shares during the period. VisionPoint Advisory Group LLC bought a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $63,000. Bridge Generations Wealth Management LLC bought a new position in Glacier Bancorp during the 4th quarter worth about $70,000. Smartleaf Asset Management LLC increased its position in Glacier Bancorp by 17.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank's stock valued at $144,000 after purchasing an additional 431 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Glacier Bancorp during the fourth quarter valued at approximately $146,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GBCI. Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods dropped their price target on Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Raymond James set a $45.00 price objective on Glacier Bancorp in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Glacier Bancorp presently has a consensus rating of "Hold" and an average price target of $50.50.

Glacier Bancorp Stock Up 0.6%

Shares of NASDAQ:GBCI traded up $0.26 during trading hours on Thursday, reaching $41.40. The stock had a trading volume of 306,307 shares, compared to its average volume of 633,195. Glacier Bancorp, Inc. has a 1 year low of $34.48 and a 1 year high of $60.67. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 24.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The firm's 50 day moving average is $41.52 and its 200-day moving average is $47.82.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the firm earned $0.29 EPS. Research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp's dividend payout ratio is presently 70.97%.

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.