Algert Global LLC trimmed its position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 39.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,090 shares of the financial services provider’s stock after selling 6,693 shares during the quarter. Algert Global LLC owned approximately 0.05% of Peapack-Gladstone Financial worth $284,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Peapack-Gladstone Financial by 0.9% in the 2nd quarter. BlackRock Inc. now owns 1,247,305 shares of the financial services provider’s stock worth $35,075,000 after acquiring an additional 10,944 shares during the last quarter. Banc Funds Co. LLC raised its stake in Peapack-Gladstone Financial by 9.9% during the 2nd quarter. Banc Funds Co. LLC now owns 1,183,557 shares of the financial services provider’s stock valued at $33,282,000 after buying an additional 106,600 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Peapack-Gladstone Financial by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,126,448 shares of the financial services provider’s stock valued at $28,364,000 after buying an additional 83,659 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Peapack-Gladstone Financial by 20.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 583,710 shares of the financial services provider’s stock valued at $16,410,000 after buying an additional 97,502 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Peapack-Gladstone Financial by 52.8% during the 2nd quarter. Brown Advisory Inc. now owns 463,143 shares of the financial services provider’s stock valued at $13,024,000 after buying an additional 160,029 shares during the last quarter. 72.64% of the stock is currently owned by hedge funds and other institutional investors.
Peapack-Gladstone Financial stock traded up $0.02 during mid-day trading on Friday, hitting $27.00. The stock had a trading volume of 108,534 shares, compared to its average volume of 56,621. The firm has a market capitalization of $525.42 million, a P/E ratio of 11.69, a P/E/G ratio of 2.00 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $28.14 and its 200 day moving average is $27.79. Peapack-Gladstone Financial Co. has a one year low of $23.96 and a one year high of $30.60.
Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.02). Peapack-Gladstone Financial had a net margin of 20.28% and a return on equity of 9.36%. The company had revenue of $42.29 million for the quarter, compared to the consensus estimate of $42.92 million. As a group, equities research analysts forecast that Peapack-Gladstone Financial Co. will post 2.38 earnings per share for the current year.
In other news, EVP Eric H. Waser sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $27.46, for a total transaction of $41,190.00. Following the transaction, the executive vice president now directly owns 21,441 shares of the company’s stock, valued at $588,769.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Vincent A. Spero sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $27.92, for a total transaction of $83,760.00. Following the transaction, the executive vice president now directly owns 40,029 shares in the company, valued at $1,117,609.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,000 shares of company stock valued at $445,305. 4.13% of the stock is owned by insiders.
Several equities research analysts have recently commented on the company. BidaskClub lowered Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. ValuEngine upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $36.50.
Peapack-Gladstone Financial Profile
Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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