Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Free Report) by 6,579.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,427 shares of the financial services provider's stock after purchasing an additional 14,211 shares during the quarter. GAMMA Investing LLC owned approximately 0.08% of Peapack-Gladstone Financial worth $410,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Basswood Capital Management L.L.C. bought a new stake in shares of Peapack-Gladstone Financial during the 4th quarter valued at about $7,928,000. Vanguard Group Inc. grew its position in shares of Peapack-Gladstone Financial by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock valued at $30,037,000 after buying an additional 62,803 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Peapack-Gladstone Financial by 37.5% during the 4th quarter. JPMorgan Chase & Co. now owns 202,865 shares of the financial services provider's stock valued at $6,502,000 after buying an additional 55,363 shares during the last quarter. American Century Companies Inc. grew its position in shares of Peapack-Gladstone Financial by 11.6% during the 4th quarter. American Century Companies Inc. now owns 339,148 shares of the financial services provider's stock valued at $10,870,000 after buying an additional 35,159 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Peapack-Gladstone Financial by 487.9% during the 4th quarter. BNP Paribas Financial Markets now owns 41,955 shares of the financial services provider's stock valued at $1,345,000 after buying an additional 34,819 shares during the last quarter. Institutional investors and hedge funds own 72.75% of the company's stock.

Peapack-Gladstone Financial Stock Performance

Peapack-Gladstone Financial stock traded up $0.81 during midday trading on Monday, reaching $27.39. 66,126 shares of the stock traded hands, compared to its average volume of 92,171. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $27.58 and a two-hundred day moving average price of $30.02. The firm has a market cap of $485.90 million, a price-to-earnings ratio of 15.22 and a beta of 0.86. Peapack-Gladstone Financial Corporation has a fifty-two week low of $20.80 and a fifty-two week high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.08). The firm had revenue of $64.36 million for the quarter, compared to analyst estimates of $64.07 million. Peapack-Gladstone Financial had a net margin of 7.71% and a return on equity of 5.27%. On average, equities research analysts forecast that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Thursday, May 8th. Peapack-Gladstone Financial's dividend payout ratio is currently 11.11%.

Insider Transactions at Peapack-Gladstone Financial

In other news, CEO Douglas L. Kennedy sold 5,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $28.58, for a total value of $142,900.00. Following the completion of the sale, the chief executive officer now directly owns 35,409 shares of the company's stock, valued at approximately $1,011,989.22. This represents a 12.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director F Duffield Meyercord purchased 6,316 shares of Peapack-Gladstone Financial stock in a transaction dated Monday, March 31st. The stock was bought at an average cost of $28.44 per share, with a total value of $179,627.04. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Company insiders own 6.95% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PGC shares. Raymond James Financial started coverage on shares of Peapack-Gladstone Financial in a research report on Friday, April 11th. They set a "strong-buy" rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th.

Peapack-Gladstone Financial 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.