Peapack-Gladstone Financial Co. (NASDAQ:PGC) Position Trimmed by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lowered its stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 861,743 shares of the financial services provider’s stock after selling 67,929 shares during the period. Peapack Gladstone Financial Corp owned approximately 4.90% of Peapack-Gladstone Financial worth $27,619,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in Peapack-Gladstone Financial by 28.4% during the 4th quarter. Wells Fargo & Company MN now owns 11,772 shares of the financial services provider’s stock worth $377,000 after buying an additional 2,606 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Peapack-Gladstone Financial during the fourth quarter valued at approximately $250,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at approximately $1,103,000. Trexquant Investment LP boosted its stake in Peapack-Gladstone Financial by 7.9% in the 4th quarter. Trexquant Investment LP now owns 36,331 shares of the financial services provider’s stock worth $1,164,000 after purchasing an additional 2,660 shares during the period. Finally, Franklin Resources Inc. purchased a new position in Peapack-Gladstone Financial during the 4th quarter worth approximately $336,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ:PGC opened at $25.39 on Friday. The company has a market cap of $446.76 million, a P/E ratio of 13.72 and a beta of 0.82. The company’s fifty day moving average is $31.17 and its two-hundred day moving average is $31.90. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 12-month low of $20.30 and a 12-month high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. Equities analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Douglas L. Kennedy sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $28.58, for a total transaction of $142,900.00. Following the transaction, the chief executive officer now owns 35,409 shares of the company’s stock, valued at approximately $1,011,989.22. This trade represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director F Duffield Meyercord bought 6,316 shares of Peapack-Gladstone Financial stock in a transaction on Monday, March 31st. The stock was acquired at an average price of $28.44 per share, with a total value of $179,627.04. Following the completion of the purchase, the director now directly owns 140,372 shares of the company’s stock, valued at approximately $3,992,179.68. The trade was a 4.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 57,633 shares of company stock worth $1,716,024 in the last quarter. 7.63% of the stock is currently owned by corporate insiders.

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.