Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Free Report) by 6,579.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,427 shares of the financial services provider's stock after buying an additional 14,211 shares during the period. GAMMA Investing LLC owned approximately 0.08% of Peapack-Gladstone Financial worth $410,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Basswood Capital Management L.L.C. bought a new position in shares of Peapack-Gladstone Financial during the fourth quarter valued at approximately $7,928,000. Vanguard Group Inc. lifted its stake in Peapack-Gladstone Financial by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock worth $30,037,000 after acquiring an additional 62,803 shares during the period. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 55,363 shares during the period. American Century Companies Inc. raised its holdings in shares of Peapack-Gladstone Financial by 11.6% in 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 purchasing an additional 35,159 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Peapack-Gladstone Financial by 487.9% in the 4th quarter. BNP Paribas Financial Markets now owns 41,955 shares of the financial services provider's stock worth $1,345,000 after purchasing an additional 34,819 shares during the period. 72.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PGC shares. Raymond James Financial assumed coverage on shares of Peapack-Gladstone Financial in a report on Friday, April 11th. They set a "strong-buy" rating and a $39.00 price objective on the stock. Wall Street Zen upgraded Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Finally, Keefe, Bruyette & Woods reduced their price target on 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.

Peapack-Gladstone Financial Stock Down 0.3%

Shares of Peapack-Gladstone Financial stock traded down $0.08 on Friday, reaching $26.58. The stock had a trading volume of 101,872 shares, compared to its average volume of 92,809. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $471.53 million, a P/E ratio of 14.77 and a beta of 0.86. The company has a 50 day moving average price of $27.54 and a 200 day moving average price of $30.17. Peapack-Gladstone Financial Corporation has a 1 year low of $20.80 and a 1 year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its earnings results 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 firm had revenue of $64.36 million during 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%. As a group, equities research analysts forecast that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, May 8th. This represents a $0.20 annualized dividend and a yield of 0.75%. Peapack-Gladstone Financial's dividend payout ratio (DPR) is 11.11%.

Insider Activity at Peapack-Gladstone Financial

In other news, CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction on Friday, March 28th. The shares were sold at an average price of $28.58, for a total transaction of $142,900.00. Following the completion of the sale, the chief executive officer now directly owns 35,409 shares in the company, valued at approximately $1,011,989.22. The trade was a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director F Duffield Meyercord acquired 6,316 shares of the company's stock in a transaction dated Monday, March 31st. The shares were bought at an average cost of $28.44 per share, for a total transaction of $179,627.04. Following the completion of the acquisition, the director now directly owns 140,372 shares of the company's stock, valued at approximately $3,992,179.68. The trade was a 4.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.63% of the stock is currently owned by corporate insiders.

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.