First Trust Advisors LP raised its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,850 shares of the financial services provider’s stock after purchasing an additional 4,359 shares during the quarter. First Trust Advisors LP owned 0.30% of Peapack-Gladstone Financial worth $2,004,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Peapack-Gladstone Financial by 1,576.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 939 shares of the financial services provider’s stock worth $32,000 after buying an additional 883 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Peapack-Gladstone Financial during the 1st quarter valued at approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Peapack-Gladstone Financial during the 3rd quarter worth approximately $54,000. Tower Research Capital LLC TRC increased its position in Peapack-Gladstone Financial by 355.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,427 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 1,894 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Peapack-Gladstone Financial by 45.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,849 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 1,815 shares during the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently commented on PGC. StockNews.com initiated coverage on Peapack-Gladstone Financial in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods cut their price target on Peapack-Gladstone Financial from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th.
Peapack-Gladstone Financial Stock Performance
Shares of Peapack-Gladstone Financial stock opened at $28.18 on Friday. The stock has a market cap of $507.80 million, a price-to-earnings ratio of 6.55 and a beta of 1.03. Peapack-Gladstone Financial Co. has a twelve month low of $22.88 and a twelve month high of $42.19. The company’s fifty day moving average is $27.19 and its 200 day moving average is $33.61. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25.
Peapack-Gladstone Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 8th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, May 5th. Peapack-Gladstone Financial’s dividend payout ratio is presently 4.65%.
Insiders Place Their Bets
In related news, COO Robert A. Plante bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were bought at an average price of $26.60 per share, for a total transaction of $39,900.00. Following the transaction, the chief operating officer now directly owns 3,932 shares of the company’s stock, valued at $104,591.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Robert A. Plante bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was acquired at an average cost of $26.60 per share, with a total value of $39,900.00. Following the transaction, the chief operating officer now directly owns 3,932 shares of the company’s stock, valued at approximately $104,591.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carmen M. Bowser acquired 1,000 shares of Peapack-Gladstone Financial stock in a transaction dated Friday, March 24th. The shares were acquired at an average price of $28.46 per share, with a total value of $28,460.00. Following the completion of the acquisition, the director now directly owns 3,168 shares of the company’s stock, valued at $90,161.28. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 6,780 shares of company stock worth $192,830. 7.63% of the stock is currently owned by insiders.
Peapack-Gladstone Financial Company Profile
(Get Rating)
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.
Recommended Stories
Receive News & Ratings for Peapack-Gladstone Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Peapack-Gladstone Financial and related companies with MarketBeat.com’s FREE daily email newsletter.