State Board of Administration of Florida Retirement System bought a new position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,090 shares of the financial services provider’s stock, valued at approximately $227,000.
Other hedge funds have also made changes to their positions in the company. State of New Jersey Common Pension Fund D purchased a new position in Peapack-Gladstone Financial during the fourth quarter worth about $2,119,000. Summit Global Investments raised its holdings in Peapack-Gladstone Financial by 35.7% during the fourth quarter. Summit Global Investments now owns 22,425 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 5,900 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Peapack-Gladstone Financial by 8.4% during the third quarter. Bank of New York Mellon Corp now owns 81,956 shares of the financial services provider’s stock worth $2,758,000 after purchasing an additional 6,364 shares in the last quarter. BNP Paribas Arbitrage SNC raised its holdings in Peapack-Gladstone Financial by 35.9% during the third quarter. BNP Paribas Arbitrage SNC now owns 7,948 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 2,099 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in Peapack-Gladstone Financial by 2.8% during the third quarter. Neuberger Berman Group LLC now owns 97,037 shares of the financial services provider’s stock worth $3,265,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have issued reports on PGC shares. StockNews.com started coverage on shares of Peapack-Gladstone Financial in a report on Thursday, May 18th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods dropped their target price on shares of Peapack-Gladstone Financial from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, April 6th.
Insider Activity
In other Peapack-Gladstone Financial news, COO Robert A. Plante purchased 1,500 shares of the stock in a transaction dated Friday, April 28th. The shares were acquired at an average cost of $26.60 per share, for a total transaction of $39,900.00. Following the completion of the transaction, the chief operating officer now directly owns 3,932 shares of the company’s stock, valued at $104,591.20. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, Director Carmen M. Bowser bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The shares were purchased at an average price of $28.46 per share, for a total transaction of $28,460.00. Following the completion of the transaction, the director now owns 3,168 shares in the company, valued at $90,161.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert A. Plante bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were purchased 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 owns 3,932 shares of the company’s stock, valued at approximately $104,591.20. The disclosure for this purchase can be found here. Insiders have acquired 6,780 shares of company stock worth $192,830 over the last ninety days. 7.63% of the stock is currently owned by insiders.
Peapack-Gladstone Financial Trading Up 1.7 %
Shares of Peapack-Gladstone Financial stock opened at $27.97 on Tuesday. The company has a 50-day moving average of $27.92 and a two-hundred day moving average of $34.33. The stock has a market cap of $504.02 million, a PE ratio of 6.50 and a beta of 1.03. Peapack-Gladstone Financial Co. has a 12-month low of $22.88 and a 12-month high of $42.19. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.
Peapack-Gladstone Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 8th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 5th. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. Peapack-Gladstone Financial’s dividend payout ratio is presently 4.65%.
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.
See Also
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