Peapack-Gladstone Financial Corporation $PGC Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its holdings in Peapack-Gladstone Financial Corporation (NASDAQ:PGC) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 557,138 shares of the financial services provider’s stock after selling 21,144 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Peapack-Gladstone Financial were worth $15,516,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Peapack-Gladstone Financial by 67.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,138,723 shares of the financial services provider’s stock worth $31,429,000 after purchasing an additional 456,828 shares during the period. Vanguard Group Inc. raised its holdings in Peapack-Gladstone Financial by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 974,523 shares of the financial services provider’s stock worth $26,897,000 after purchasing an additional 28,489 shares during the period. Geode Capital Management LLC raised its holdings in Peapack-Gladstone Financial by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 452,521 shares of the financial services provider’s stock worth $12,605,000 after purchasing an additional 5,260 shares during the period. Salzhauer Michael raised its holdings in Peapack-Gladstone Financial by 5.7% in the 4th quarter. Salzhauer Michael now owns 269,242 shares of the financial services provider’s stock worth $7,498,000 after purchasing an additional 14,612 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Peapack-Gladstone Financial by 59.0% in the 3rd quarter. Two Sigma Investments LP now owns 156,903 shares of the financial services provider’s stock worth $4,331,000 after purchasing an additional 58,220 shares during the period. Institutional investors and hedge funds own 72.75% of the company’s stock.

Peapack-Gladstone Financial Price Performance

PGC stock opened at $42.81 on Tuesday. Peapack-Gladstone Financial Corporation has a 1 year low of $24.42 and a 1 year high of $44.30. The firm has a market capitalization of $758.51 million, a PE ratio of 17.26 and a beta of 0.72. The business has a 50 day simple moving average of $39.74 and a 200-day simple moving average of $33.67.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.66 by $0.14. Peapack-Gladstone Financial had a return on equity of 6.75% and a net margin of 9.60%.The firm had revenue of $82.49 million during the quarter, compared to analysts’ expectations of $79.17 million. On average, equities research analysts expect that Peapack-Gladstone Financial Corporation will post 3.69 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, May 7th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 8.06%.

Analyst Ratings Changes

PGC has been the subject of a number of analyst reports. Weiss Ratings raised Peapack-Gladstone Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods upped their price target on Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, Piper Sandler upped their price target on Peapack-Gladstone Financial from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.