Two Sigma Advisers LP trimmed its stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,194 shares of the financial services provider’s stock after selling 7,994 shares during the quarter. Two Sigma Advisers LP owned 0.17% of Peapack-Gladstone Financial worth $811,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC boosted its holdings in Peapack-Gladstone Financial by 51.9% in the third quarter. MetLife Investment Advisors LLC now owns 12,623 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 4,312 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Peapack-Gladstone Financial by 22.4% in the third quarter. TIAA CREF Investment Management LLC now owns 86,630 shares of the financial services provider’s stock worth $2,676,000 after acquiring an additional 15,871 shares in the last quarter. Vanguard Group Inc boosted its holdings in Peapack-Gladstone Financial by 0.8% in the third quarter. Vanguard Group Inc now owns 766,829 shares of the financial services provider’s stock worth $23,686,000 after acquiring an additional 6,322 shares in the last quarter. Boston Partners boosted its holdings in Peapack-Gladstone Financial by 46.0% in the fourth quarter. Boston Partners now owns 803,065 shares of the financial services provider’s stock worth $20,221,000 after acquiring an additional 253,125 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Peapack-Gladstone Financial by 10.7% in the third quarter. Renaissance Technologies LLC now owns 319,720 shares of the financial services provider’s stock worth $9,876,000 after acquiring an additional 30,900 shares in the last quarter. 72.06% of the stock is currently owned by institutional investors and hedge funds.
PGC stock opened at $27.47 on Wednesday. Peapack-Gladstone Financial Co. has a 1-year low of $23.96 and a 1-year high of $36.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $526.11 million, a PE ratio of 11.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.
Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). Peapack-Gladstone Financial had a return on equity of 9.91% and a net margin of 21.67%. The business had revenue of $40.64 million during the quarter, compared to analysts’ expectations of $41.58 million. As a group, research analysts anticipate that Peapack-Gladstone Financial Co. will post 2.37 EPS for the current fiscal year.
PGC has been the topic of several analyst reports. Gabelli initiated coverage on Peapack-Gladstone Financial in a report on Monday, February 11th. They issued a “buy” rating and a $37.00 target price on the stock. BidaskClub raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Zacks Investment Research raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, FIG Partners downgraded Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $36.50.
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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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