Swiss National Bank Reduces Stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Swiss National Bank decreased its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGCFree Report) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,700 shares of the financial services provider’s stock after selling 4,000 shares during the period. Swiss National Bank owned 0.18% of Peapack-Gladstone Financial worth $945,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PGC. Vanguard Group Inc. boosted its position in shares of Peapack-Gladstone Financial by 1.3% in the third quarter. Vanguard Group Inc. now owns 876,954 shares of the financial services provider’s stock worth $22,494,000 after buying an additional 11,345 shares during the period. Wellington Management Group LLP increased its position in Peapack-Gladstone Financial by 22.6% in the 3rd quarter. Wellington Management Group LLP now owns 540,095 shares of the financial services provider’s stock valued at $13,853,000 after acquiring an additional 99,700 shares during the period. North Reef Capital Management LP increased its position in Peapack-Gladstone Financial by 77.1% in the 3rd quarter. North Reef Capital Management LP now owns 500,000 shares of the financial services provider’s stock valued at $12,825,000 after acquiring an additional 217,646 shares during the period. Kennedy Capital Management LLC boosted its stake in Peapack-Gladstone Financial by 31.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 299,024 shares of the financial services provider’s stock valued at $7,670,000 after purchasing an additional 71,252 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Peapack-Gladstone Financial by 12.5% during the 3rd quarter. American Century Companies Inc. now owns 173,958 shares of the financial services provider’s stock worth $4,462,000 after acquiring an additional 19,346 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Peapack-Gladstone Financial Stock Performance

Shares of Peapack-Gladstone Financial stock opened at $21.39 on Friday. The firm has a fifty day moving average of $23.30 and a two-hundred day moving average of $25.28. The stock has a market capitalization of $380.10 million, a price-to-earnings ratio of 9.81 and a beta of 0.99. Peapack-Gladstone Financial Co. has a 52 week low of $20.63 and a 52 week high of $31.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 0.99.

Peapack-Gladstone Financial (NASDAQ:PGCGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $53.08 million during the quarter, compared to analyst estimates of $53.69 million. Peapack-Gladstone Financial had a net margin of 10.11% and a return on equity of 7.23%. As a group, equities research analysts predict that Peapack-Gladstone Financial Co. will post 2.04 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.20 annualized dividend and a yield of 0.94%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Peapack-Gladstone Financial from $30.50 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Piper Sandler downgraded Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 24th. Finally, TheStreet downgraded Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research report on Friday, February 23rd.

Read Our Latest Report on PGC

Insider Activity

In other Peapack-Gladstone Financial news, EVP Stuart M. Vorcheimer sold 4,608 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $24.09, for a total value of $111,006.72. Following the transaction, the executive vice president now directly owns 2,205 shares of the company’s stock, valued at approximately $53,118.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.63% of the stock is owned by insiders.

Peapack-Gladstone Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

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