SG Americas Securities LLC Buys 33,733 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC)

SG Americas Securities LLC increased its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 344.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,539 shares of the financial services provider's stock after purchasing an additional 33,733 shares during the period. SG Americas Securities LLC owned 0.25% of Peapack-Gladstone Financial worth $1,237,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Delta Financial Group Inc. bought a new position in shares of Peapack-Gladstone Financial during the 4th quarter valued at approximately $353,000. Proficio Capital Partners LLC purchased a new stake in shares of Peapack-Gladstone Financial during the fourth quarter worth about $532,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Peapack-Gladstone Financial by 0.7% during 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 purchasing an additional 895 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Peapack-Gladstone Financial by 1.6% during the fourth quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider's stock worth $1,140,000 after purchasing an additional 567 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Peapack-Gladstone Financial by 172.4% in the fourth quarter. AlphaQuest LLC now owns 15,990 shares of the financial services provider's stock valued at $512,000 after acquiring an additional 10,119 shares during the period. 72.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John P. Babcock sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total value of $287,600.00. Following the completion of the transaction, the executive vice president now owns 39,155 shares in the company, valued at $1,126,097.80. The trade was a 20.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director F Duffield Meyercord bought 6,316 shares of the stock in a transaction on Monday, March 31st. The shares were acquired at an average cost of $28.44 per share, with a total value of $179,627.04. Following the acquisition, the director now directly 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. Insiders sold 20,000 shares of company stock worth $574,450 over the last quarter. Corporate insiders own 7.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Raymond James began coverage on Peapack-Gladstone Financial in a research report on Friday, April 11th. They set a "strong-buy" rating and a $39.00 price target for the company. 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 on the stock in a research report on Thursday, April 24th.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ PGC opened at $26.99 on Tuesday. Peapack-Gladstone Financial Co. has a 1-year low of $20.80 and a 1-year high of $37.88. The business has a 50-day moving average of $27.50 and a 200-day moving average of $30.29. 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 company has a market capitalization of $478.69 million, a price-to-earnings ratio of 14.59 and a beta of 0.86.

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 (EPS) for the quarter, missing the consensus estimate 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 8.11% and a return on equity of 5.57%. On average, equities analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

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

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.

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