Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 487.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,955 shares of the financial services provider's stock after purchasing an additional 34,819 shares during the quarter. BNP Paribas Financial Markets owned about 0.24% of Peapack-Gladstone Financial worth $1,345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC acquired a new stake in Peapack-Gladstone Financial in the 4th quarter valued at about $32,000. Albion Financial Group UT acquired a new stake in Peapack-Gladstone Financial in the 4th quarter valued at about $35,000. KLP Kapitalforvaltning AS acquired a new stake in Peapack-Gladstone Financial in the 4th quarter valued at about $112,000. Quantbot Technologies LP grew its stake in Peapack-Gladstone Financial by 507.2% in the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock valued at $189,000 after acquiring an additional 4,930 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Peapack-Gladstone Financial in the 4th quarter valued at about $201,000. 72.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Peapack-Gladstone Financial

In other news, CEO Douglas L. Kennedy sold 20,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the transaction, the chief executive officer now directly owns 43,703 shares in the company, valued at $1,263,453.73. This represents a 31.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director F Duffield Meyercord acquired 6,316 shares of the business's stock in a transaction dated Monday, March 31st. The shares were bought at an average price of $28.44 per share, for a total transaction of $179,627.04. Following the completion of the acquisition, the director now owns 140,372 shares in the company, valued at approximately $3,992,179.68. This trade represents a 4.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 40,000 shares of company stock worth $1,152,650 in the last three months. Company insiders own 7.63% of the company's stock.

Peapack-Gladstone Financial Trading Down 0.8%

NASDAQ:PGC traded down $0.21 on Friday, reaching $26.87. The stock had a trading volume of 81,248 shares, compared to its average volume of 97,419. The company has a market cap of $476.57 million, a price-to-earnings ratio of 14.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The firm's fifty day moving average is $27.60 and its two-hundred day moving average is $31.29. 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 - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $64.07 million. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. Equities analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. Peapack-Gladstone Financial's payout ratio is currently 11.11%.

Wall Street Analyst Weigh In

PGC has been the topic of a number of research reports. Raymond James initiated coverage on shares of Peapack-Gladstone Financial in a research note on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 price objective on the stock. 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. Finally, Wall Street Zen lowered shares of Peapack-Gladstone Financial from a "hold" rating to a "sell" rating in a report on Thursday.

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.