Jane Street Group LLC Boosts Stock Holdings in Glacier Bancorp, Inc. $GBCI

Key Points

• Jane Street Group LLC significantly increased its holding in Glacier Bancorp, purchasing an additional 236,781 shares, which raised its ownership by 464.3% to a total of 287,773 shares valued at approximately $12.7 million.
• Major institutional investors, including UBS and Goldman Sachs, have also increased their stakes in Glacier Bancorp during the same period, reflecting a broader confidence in the company's prospects.
• Glacier Bancorp recently posted earnings per share of $0.45, missing analysts' estimates, and declared a quarterly dividend of $0.33 per share, which equates to an annual yield of 2.7%.

Jane Street Group LLC increased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 464.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,773 shares of the bank's stock after acquiring an additional 236,781 shares during the period. Jane Street Group LLC owned about 0.25% of Glacier Bancorp worth $12,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GBCI. CWM LLC raised its stake in shares of Glacier Bancorp by 0.7% during the first quarter. CWM LLC now owns 39,635 shares of the bank's stock valued at $1,753,000 after acquiring an additional 285 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Glacier Bancorp by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,136 shares of the bank's stock worth $1,200,000 after purchasing an additional 300 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Glacier Bancorp by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank's stock worth $1,406,000 after purchasing an additional 300 shares during the last quarter. Moody National Bank Trust Division raised its position in Glacier Bancorp by 1.5% in the first quarter. Moody National Bank Trust Division now owns 22,379 shares of the bank's stock worth $990,000 after acquiring an additional 339 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Glacier Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 13,286 shares of the bank's stock worth $587,000 after acquiring an additional 360 shares during the period. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Trading Down 0.8%

GBCI traded down $0.38 on Friday, hitting $49.75. The company had a trading volume of 2,553,168 shares, compared to its average volume of 710,274. The company has a market cap of $5.90 billion, a PE ratio of 29.79 and a beta of 0.82. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The business's fifty day simple moving average is $46.71 and its 200 day simple moving average is $43.98.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share 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 company posted $0.39 earnings per share. Equities research analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp's dividend payout ratio is presently 68.75%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. DA Davidson reaffirmed a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Raymond James Financial reissued an "outperform" rating and set a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Keefe, Bruyette & Woods raised their target price 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, August 28th. Finally, Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Glacier Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.50.

Insider Buying and Selling

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the transaction, the insider owned 11,918 shares of the company's stock, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company's stock.

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.