Proficio Capital Partners LLC bought a new stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 16,602 shares of the financial services provider's stock, valued at approximately $532,000. Proficio Capital Partners LLC owned 0.09% of Peapack-Gladstone Financial as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PGC. Wellington Management Group LLP lifted its stake in Peapack-Gladstone Financial by 2.5% in the 3rd quarter. Wellington Management Group LLP now owns 631,645 shares of the financial services provider's stock valued at $17,313,000 after purchasing an additional 15,667 shares during the last quarter. State Street Corp lifted its stake in shares of Peapack-Gladstone Financial by 2.4% in the 3rd quarter. State Street Corp now owns 524,231 shares of the financial services provider's stock valued at $14,369,000 after acquiring an additional 12,332 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Peapack-Gladstone Financial by 1.1% during 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 in the last quarter. Synergy Asset Management LLC grew its position in Peapack-Gladstone Financial by 7.9% during the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider's stock worth $11,199,000 after acquiring an additional 25,687 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 worth $4,043,000 after purchasing an additional 8,393 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods lifted 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.
Check Out Our Latest Stock Analysis on PGC
Peapack-Gladstone Financial Trading Down 0.3 %
Shares of NASDAQ:PGC traded down $0.09 during mid-day trading on Thursday, reaching $28.56. 73,081 shares of the company's stock were exchanged, compared to its average volume of 81,280. 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 Co. has a twelve month low of $20.30 and a twelve month high of $37.88. The firm has a market capitalization of $502.23 million, a price-to-earnings ratio of 15.44 and a beta of 1.00. The business's fifty day moving average price is $32.09 and its 200-day moving average price is $31.71.
Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.
Peapack-Gladstone Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Thursday, February 6th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.20 annualized dividend and a yield of 0.70%. Peapack-Gladstone Financial's payout ratio is 10.81%.
Insider Transactions at Peapack-Gladstone Financial
In other news, EVP Gregory Martin Smith sold 17,633 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $31.95, for a total value of $563,374.35. Following the transaction, the executive vice president now directly owns 297 shares of the company's stock, valued at $9,489.15. The trade was a 98.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.63% of the company's stock.
About Peapack-Gladstone Financial
(
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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