Jane Street Group LLC Raises Position in Glacier Bancorp, Inc. $GBCI

Key Points

• Jane Street Group LLC increased its stake in Glacier Bancorp by 464.3% during Q1, acquiring an additional 236,781 shares, and now holds about 0.25% of the company valued at $12,725,000.
• Glacier Bancorp reported earnings of $0.45 per share for the latest quarter, missing analysts' expectations of $0.49, with a return on equity of 5.98%.
• The company announced a quarterly dividend of $0.33, representing a 2.7% dividend yield, with a payout ratio of 68.75% as of the last report.

Jane Street Group LLC grew its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 464.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $33,000. JNBA Financial Advisors purchased a new stake in Glacier Bancorp during the first quarter worth about $35,000. UMB Bank n.a. boosted 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 buying an additional 448 shares in the last quarter. Farther Finance Advisors LLC boosted 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 buying an additional 1,001 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in Glacier Bancorp during the first quarter worth about $121,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $49.20 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $5.83 billion, a P/E ratio of 29.46 and a beta of 0.79. The company has a 50-day moving average of $45.50 and a two-hundred day moving average of $43.92. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67.

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

Glacier Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on GBCI shares. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a report on Thursday. Raymond James Financial reissued an "outperform" rating and set a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Thursday, June 5th. Finally, DA Davidson reissued a "buy" rating and set a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.50.

Insider Buying and Selling at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, 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.

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