Jupiter Topco LLC Purchases Shares of 937,895 Glacier Bancorp, Inc. $GBCI

Key Points

• Jupiter Topco LLC acquired 937,895 shares of Glacier Bancorp worth approximately $48.4 million, giving it a 0.72% stake. Institutional investors and hedge funds collectively own 80.17% of the company.
• Glacier Bancorp reported quarterly earnings of $0.76 per share, in line with analyst estimates, on revenue of $320.94 million; analysts expect full-year EPS of $3.11.
• The company pays a quarterly dividend of $0.33 per share, equivalent to a 2.8% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $55.17.

Jupiter Topco LLC purchased a new stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 937,895 shares of the company's stock, valued at approximately $48,377,000. Jupiter Topco LLC owned about 0.72% of Glacier Bancorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Glacier Bancorp in the 2nd quarter valued at approximately $913,766,000. Norges Bank acquired a new position in Glacier Bancorp during the 4th quarter worth $67,582,000. Madison Asset Management LLC acquired a new position in Glacier Bancorp during the 2nd quarter worth $59,048,000. Bank of New York Mellon Corp bought a new position in shares of Glacier Bancorp in the second quarter worth $55,775,000. Finally, Vanguard Group Inc. grew its stake in shares of Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company's stock worth $588,471,000 after purchasing an additional 870,335 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Price Performance

Shares of NYSE:GBCI opened at $47.30 on Friday. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 19.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $54.58. The stock's 50 day moving average price is $50.18 and its 200 day moving average price is $48.31.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The firm had revenue of $320.94 million during the quarter. During the same period in the previous year, the business posted $0.57 earnings per share. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp's dividend payout ratio (DPR) is currently 54.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. DA Davidson restated a "buy" rating and set a $58.00 price objective on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of "Moderate Buy" and an average target price of $55.17.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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