D. E. Shaw & Co. Inc. Has $2.58 Million Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

D. E. Shaw & Co. Inc. reduced its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,541 shares of the financial services provider’s stock after selling 12,202 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.46% of Peapack-Gladstone Financial worth $2,581,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PGC. Aquatic Capital Management LLC bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at $32,000. Albion Financial Group UT bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at $35,000. KLP Kapitalforvaltning AS bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at $112,000. Quantbot Technologies LP grew its position in Peapack-Gladstone Financial by 507.2% in the fourth quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 4,930 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at $201,000. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Stock Down 0.4%

Peapack-Gladstone Financial stock opened at $28.80 on Tuesday. The company has a market capitalization of $510.80 million, a PE ratio of 15.57 and a beta of 0.87. The firm’s fifty day moving average is $27.71 and its 200 day moving average is $31.49. 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 posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.08). The company had revenue of $64.36 million for the quarter, compared to the consensus estimate of $64.07 million. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. As a group, sell-side analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 8th. Peapack-Gladstone Financial’s payout ratio is 11.11%.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP John P. Babcock sold 10,000 shares of Peapack-Gladstone Financial stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total value of $287,600.00. Following the transaction, the executive vice president now directly owns 39,155 shares of the company’s stock, valued at $1,126,097.80. The trade was a 20.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas L. Kennedy sold 20,000 shares of Peapack-Gladstone Financial stock in a transaction on Monday, March 17th. The stock was sold at an average price of $28.91, for a total transaction of $578,200.00. Following the completion of the transaction, the chief executive officer now directly owns 43,703 shares in the company, valued at approximately $1,263,453.73. The trade was a 31.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $1,152,650 over the last three months. 7.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PGC has been the subject of a number of research reports. Raymond James began coverage on shares of Peapack-Gladstone Financial in a research note on Friday, April 11th. They set a “strong-buy” rating and a $39.00 target price for the company. Keefe, Bruyette & Woods reduced their target price on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th.

Peapack-Gladstone Financial Company 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.