Proficio Capital Partners LLC Invests $532,000 in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Proficio Capital Partners LLC bought a new stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,602 shares of the financial services provider's stock, valued at approximately $532,000. Proficio Capital Partners LLC owned approximately 0.09% of Peapack-Gladstone Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PGC. Synergy Asset Management LLC raised its holdings in Peapack-Gladstone Financial by 7.9% in the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider's stock valued at $11,199,000 after acquiring an additional 25,687 shares during the period. JPMorgan Chase & Co. boosted its stake in Peapack-Gladstone Financial by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider's stock valued at $4,043,000 after purchasing an additional 8,393 shares during the period. Algert Global LLC grew its holdings in Peapack-Gladstone Financial by 165.8% in the 3rd quarter. Algert Global LLC now owns 24,558 shares of the financial services provider's stock valued at $673,000 after buying an additional 15,320 shares in the last quarter. State Street Corp increased its position in Peapack-Gladstone Financial by 2.4% during the 3rd quarter. State Street Corp now owns 524,231 shares of the financial services provider's stock worth $14,369,000 after buying an additional 12,332 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Peapack-Gladstone Financial during the fourth quarter worth $3,590,000. 72.75% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on 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 owns 40,409 shares of the company's stock, valued at $1,163,375.11. The trade was a 11.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John P. Babcock sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $28.76, for a total transaction of $287,600.00. Following the completion of the transaction, the executive vice president now directly owns 39,155 shares in the company, valued at $1,126,097.80. This trade represents a 20.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,633 shares of company stock valued at $1,573,124. 7.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price target on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th.

Peapack-Gladstone Financial Price Performance

NASDAQ PGC traded up $0.13 during trading on Thursday, hitting $29.18. 70,842 shares of the company's stock were exchanged, compared to its average volume of 95,165. The company has a market cap of $513.45 million, a PE ratio of 15.77 and a beta of 1.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. The stock's 50 day moving average price is $31.72 and its two-hundred day moving average price is $31.83.

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

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.