10,472 Shares in Peapack-Gladstone Financial Co. (NASDAQ:PGC) Purchased by Franklin Resources Inc.

Franklin Resources Inc. acquired a new stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,472 shares of the financial services provider's stock, valued at approximately $336,000. Franklin Resources Inc. owned approximately 0.06% of Peapack-Gladstone Financial as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Peapack-Gladstone Financial by 108.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,195 shares of the financial services provider's stock worth $718,000 after buying an additional 13,623 shares during the period. State Street Corp increased its position in shares of Peapack-Gladstone Financial by 2.4% during the third quarter. State Street Corp now owns 524,231 shares of the financial services provider's stock worth $14,369,000 after acquiring an additional 12,332 shares during the period. Jane Street Group LLC grew its stake in Peapack-Gladstone Financial by 1.6% during the 3rd quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider's stock worth $658,000 after purchasing an additional 387 shares in the last quarter. Barclays PLC lifted its stake in Peapack-Gladstone Financial by 69.9% in the third quarter. Barclays PLC now owns 33,656 shares of the financial services provider's stock worth $923,000 after acquiring an additional 13,846 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Peapack-Gladstone Financial by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 378,780 shares of the financial services provider's stock valued at $10,385,000 after acquiring an additional 4,172 shares during the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Peapack-Gladstone Financial news, Director F Duffield Meyercord bought 6,316 shares of the business's stock in a transaction on Monday, March 31st. The shares were bought at an average cost of $28.44 per share, with a total value of $179,627.04. Following the transaction, the director now directly owns 140,372 shares in the company, valued at approximately $3,992,179.68. This trade represents a 4.71 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas L. Kennedy sold 5,000 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $28.79, for a total transaction of $143,950.00. Following the transaction, the chief executive officer now directly owns 40,409 shares in the company, valued at $1,163,375.11. The trade was a 11.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,633 shares of company stock valued at $1,716,024 over the last quarter. Company insiders own 7.63% of the company's stock.

Peapack-Gladstone Financial Stock Up 1.0 %

PGC stock opened at $26.09 on Friday. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88. The company has a fifty day moving average of $29.38 and a 200-day moving average of $31.69. The stock has a market capitalization of $459.08 million, a PE ratio of 14.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share 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%. As a group, analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Analysts Set New Price Targets

Separately, Raymond James assumed coverage on Peapack-Gladstone Financial in a report on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 target price for the company.

About Peapack-Gladstone Financial

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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