Oppenheimer & Co. Inc. bought a new position in Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 29,775 shares of the financial services provider’s stock, valued at approximately $1,108,000. Oppenheimer & Co. Inc. owned 0.17% of Peapack-Gladstone Financial as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners boosted its position in shares of Peapack-Gladstone Financial by 359.7% during the fourth quarter. Boston Partners now owns 711,148 shares of the financial services provider’s stock valued at $26,433,000 after buying an additional 556,465 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Peapack-Gladstone Financial by 50.5% during the second quarter. JPMorgan Chase & Co. now owns 207,174 shares of the financial services provider’s stock valued at $6,153,000 after buying an additional 69,520 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Peapack-Gladstone Financial in the fourth quarter valued at $2,119,000. Goldman Sachs Group Inc. raised its position in shares of Peapack-Gladstone Financial by 330.9% in the first quarter. Goldman Sachs Group Inc. now owns 70,967 shares of the financial services provider’s stock worth $2,466,000 after acquiring an additional 54,497 shares during the period. Finally, Salzhauer Michael raised its position in shares of Peapack-Gladstone Financial by 25.1% during the 3rd quarter. Salzhauer Michael now owns 213,522 shares of the financial services provider’s stock worth $7,185,000 after purchasing an additional 42,781 shares during the last quarter. 72.99% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on Peapack-Gladstone Financial from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. StockNews.com cut shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 1st.
Peapack-Gladstone Financial Stock Up 1.9 %
PGC stock opened at $24.90 on Thursday. The company has a market cap of $443.87 million, a P/E ratio of 5.79 and a beta of 1.03. Peapack-Gladstone Financial Co. has a 52 week low of $22.88 and a 52 week high of $42.19. The company’s 50-day moving average price is $29.46 and its 200 day moving average price is $35.03. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.
Peapack-Gladstone Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Monday, May 8th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, May 5th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 4.65%.
Insider Buying and Selling
In other Peapack-Gladstone Financial news, Director Carmen M. Bowser acquired 1,000 shares of the company’s stock in a transaction dated Friday, March 24th. The stock was bought at an average price of $28.46 per share, with a total value of $28,460.00. Following the completion of the transaction, the director now directly owns 3,168 shares of the company’s stock, valued at $90,161.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Carmen M. Bowser acquired 1,000 shares of Peapack-Gladstone Financial stock in a transaction on Friday, March 24th. The shares were purchased at an average cost of $28.46 per share, for a total transaction of $28,460.00. Following the purchase, the director now directly owns 3,168 shares of the company’s stock, valued at approximately $90,161.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert A. Plante purchased 1,500 shares of Peapack-Gladstone Financial stock in a transaction dated Friday, April 28th. The stock was acquired at an average price of $26.60 per share, for a total transaction of $39,900.00. Following the completion of the transaction, the chief operating officer now owns 3,932 shares in the company, valued at approximately $104,591.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,780 shares of company stock valued at $192,830. Insiders own 7.63% of the company’s stock.
About Peapack-Gladstone Financial
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Peapack-Gladstone Financial Corp. is a bank holding company, which engages in the provision of private banking services to businesses, non-profits, and consumers. It operates through the Banking and Peapack Private segments. The Banking segment is involved in the delivery of loan and deposit products to customers.
Further Reading
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