SG Americas Securities LLC Has $1.24 Million Position in Peapack-Gladstone Financial Corporation (NASDAQ:PGC)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new stake in Peapack-Gladstone Financial during the 4th quarter worth $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Peapack-Gladstone Financial in the fourth quarter worth about $112,000. Quantbot Technologies LP lifted its holdings in shares of Peapack-Gladstone Financial by 507.2% during the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock valued at $189,000 after purchasing an additional 4,930 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Peapack-Gladstone Financial in the 4th quarter valued at approximately $201,000. Finally, Stifel Financial Corp acquired a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at approximately $211,000. 72.75% of the stock is owned by institutional investors.

Peapack-Gladstone Financial Stock Performance

Shares of PGC traded down $0.05 during midday trading on Friday, reaching $26.62. 38,526 shares of the stock were exchanged, compared to its average volume of 92,562. The stock's 50 day simple moving average is $27.54 and its 200 day simple moving average is $30.17. The company has a market cap of $472.15 million, a P/E ratio of 14.79 and a beta of 0.86. Peapack-Gladstone Financial Corporation has a twelve month low of $20.80 and a twelve month high of $37.88. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.16.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $64.36 million during the quarter, compared to analyst estimates of $64.07 million. On average, sell-side analysts expect that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PGC shares. Raymond James Financial assumed coverage on shares of Peapack-Gladstone Financial in a research note 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 cut their price target on Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Thursday, April 24th.

Insiders Place Their Bets

In other news, Director F Duffield Meyercord purchased 6,316 shares of the business's stock in a transaction dated Monday, March 31st. The shares were purchased 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 of the company's stock, valued at $3,992,179.68. This trade represents a 4.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $28.58, for a total transaction of $142,900.00. Following the sale, the chief executive officer now owns 35,409 shares in the company, valued at approximately $1,011,989.22. This represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.63% of the company's stock.

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.