Two Sigma Advisers LP Has $1.61 Million Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Two Sigma Advisers LP lessened its stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 19.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,120 shares of the financial services provider's stock after selling 12,200 shares during the quarter. Two Sigma Advisers LP owned 0.29% of Peapack-Gladstone Financial worth $1,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PGC. Aquatic Capital Management LLC acquired a new position in Peapack-Gladstone Financial during the fourth quarter worth $32,000. KLP Kapitalforvaltning AS acquired a new position in Peapack-Gladstone Financial during the fourth quarter worth $112,000. Quantbot Technologies LP boosted its holdings in Peapack-Gladstone Financial by 507.2% during the fourth quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock worth $189,000 after purchasing an additional 4,930 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Peapack-Gladstone Financial during the fourth quarter worth $201,000. Finally, Stifel Financial Corp acquired a new position in Peapack-Gladstone Financial during the fourth quarter worth $211,000. Institutional investors and hedge funds own 72.75% of the company's stock.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy sold 20,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the sale, the chief executive officer now directly owns 43,703 shares in the company, valued at $1,263,453.73. This represents a 31.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director F Duffield Meyercord acquired 6,316 shares of Peapack-Gladstone Financial stock in a transaction on Monday, March 31st. The shares were purchased at an average price of $28.44 per share, for a total transaction of $179,627.04. Following the completion of the purchase, the director now directly owns 140,372 shares of the company's stock, valued at approximately $3,992,179.68. This represents a 4.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 40,000 shares of company stock worth $1,152,650. Corporate insiders own 7.63% of the company's stock.

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock traded up $0.57 on Tuesday, hitting $27.86. The company's stock had a trading volume of 55,979 shares, compared to its average volume of 95,872. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The stock's 50 day moving average is $27.36 and its 200-day moving average is $30.88. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. The company has a market capitalization of $494.12 million, a PE ratio of 15.06 and a beta of 0.87.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.08). Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. The business had revenue of $64.36 million during the quarter, compared to analyst estimates of $64.07 million. Equities research analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. Peapack-Gladstone Financial's dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analyst Weigh In

PGC has been the subject of several recent research reports. Raymond James initiated coverage on shares of Peapack-Gladstone Financial in a report on Friday, April 11th. They set a "strong-buy" rating and a $39.00 target price for the company. Wall Street Zen upgraded shares of Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a report on Friday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of 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.

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.