Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Shares Purchased by Salzhauer Michael

Salzhauer Michael grew its holdings in Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Free Report) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,802 shares of the financial services provider's stock after buying an additional 13,708 shares during the quarter. Peapack-Gladstone Financial accounts for 1.8% of Salzhauer Michael's investment portfolio, making the stock its 12th largest position. Salzhauer Michael owned about 0.92% of Peapack-Gladstone Financial worth $4,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of Peapack-Gladstone Financial in the fourth quarter worth approximately $532,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Peapack-Gladstone Financial by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 129,982 shares of the financial services provider's stock worth $4,166,000 after acquiring an additional 895 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Peapack-Gladstone Financial by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider's stock worth $1,140,000 after acquiring an additional 567 shares during the last quarter. AlphaQuest LLC boosted its stake in Peapack-Gladstone Financial by 172.4% during the fourth quarter. AlphaQuest LLC now owns 15,990 shares of the financial services provider's stock worth $512,000 after buying an additional 10,119 shares during the last quarter. Finally, Boston Partners boosted its stake in Peapack-Gladstone Financial by 2.3% during the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider's stock worth $25,046,000 after buying an additional 17,220 shares during the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Peapack-Gladstone Financial news, Director F Duffield Meyercord acquired 6,316 shares of the company's stock in a transaction dated Monday, March 31st. The shares were acquired at an average price of $28.44 per share, for a total transaction of $179,627.04. Following the acquisition, the director now owns 140,372 shares in the company, valued at $3,992,179.68. The trade was a 4.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by company insiders.

Peapack-Gladstone Financial Trading Up 1.0%

NASDAQ PGC traded up $0.29 on Friday, reaching $28.25. 270,867 shares of the company were exchanged, compared to its average volume of 91,536. Peapack-Gladstone Financial Corporation has a fifty-two week low of $20.98 and a fifty-two week high of $37.88. 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 stock has a market capitalization of $501.16 million, a P/E ratio of 15.69 and a beta of 0.86. The business's fifty day moving average price is $27.77 and its 200 day moving average price is $29.72.

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