Peapack-Gladstone Financial Co. (NASDAQ:PGC) has been making headlines lately, with Oppenheimer & Co. Inc. buying a new position of PGC shares during the fourth quarter worth over $1 million, according to a recently filed disclosure with the Securities and Exchange Commission (SEC). The purchase means that Oppenheimer & Co. now owns 0.17% of Peapack-Gladstone Financial.
Recent insider activity within the company is also noteworthy, with Director Carmen M. Bowser making two purchases of PGC shares since March this year. Bowser purchased 1,000 shares at an average cost of $28.46 per share in each transaction totaling around $28,000 altogether.
Following these purchases by insider Carmen M. Bowser was another acquisition made by COO Robert A. Plante on April 28th, wherein he purchased 1,500 PGC shares at an average price of $26.60 per share.
The recent round of insider buying sees prospective investors taking note and following curiosity towards the market performance and future direction of Peapack-Gladstone Financial Co., especially as insiders now own roughly 7% of the company’s stock.
Peapack-Gladstone Financial Co., which currently holds a market cap valuation worth $443 million and a P/E ratio of 5.79, seems poised to make bigger strides in the financial services industry soon enough with its current management drive towards growth and innovation.
Even though there was a significant loss in revenue recorded for the first quarter ending March 2020 due to COVID-19 pandemic related disruptions, there is no doubt that Peapack-Gladstone can still be considered a reliable player in the sector given its sound economics over time.
Furthermore, investors will be reminded that past trends cannot necessarily predict future performance alone and they are advised to take caution in their investment decisions as we approach uncertain times.
Investor Interest Surges in Peapack-Gladstone Financial Amid Criticism and Dividend Declaration
Peapack-Gladstone Financial is a financial services provider that has seen a surge in investor interest, with Boston Partners boosting its position in the company by 359.7% during the fourth quarter, and JPMorgan Chase & Co. growing its holdings by 50.5%, according to recent reports. Other institutional investors and hedge funds have also been active in acquiring and selling shares in the company. State of New Jersey Common Pension Fund D purchased a new stake valued at $2,119,000, while Goldman Sachs Group Inc. raised its position by 330.9%. Finally, Salzhauer Michael increased its position by 25.1% in the third quarter alone.
Despite this flurry of investment activity, some analysts have criticized Peapack-Gladstone’s performance recently, with StockNews.com downgrading its rating from “buy” to “hold” earlier this year. Keefe, Bruyette & Woods also lowered their price objective for the company from $48 to $43 per share.
Nonetheless, Peapack-Gladstone declared a quarterly dividend recently and looks set to reward investors who hold onto their positions for the long-term. The dividend payout ratio (DPR) of the financial provider stands at an impressive 4.65% currently.
Investors themselves remain bullish on Peapack-Gladstone’s prospects despite some recent headwinds affecting the broader financial market levels; with around 73% of stocks being owned by institutional investors cheering on the operations of this prestigious company.
The steady growth trajectory over several years helps set Peapack-Gladstone apart as a highly attractive investment opportunity for those seeking solid returns based upon deep market trends and insights within financial investments today that are both profitable and offer relatively low risk ratios compared to other investment schemes that are out there available in today’s highly liquid capital markets!