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

Two Sigma Advisers LP lessened its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing 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 period. Two Sigma Advisers LP owned approximately 0.29% of Peapack-Gladstone Financial worth $1,606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PGC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Peapack-Gladstone Financial by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,549 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 380 shares in the last quarter. Victory Capital Management Inc. increased its stake in Peapack-Gladstone Financial by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider's stock valued at $1,140,000 after buying an additional 567 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Peapack-Gladstone Financial by 1.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 57,485 shares of the financial services provider's stock worth $1,842,000 after buying an additional 750 shares in the last quarter. Barclays PLC lifted its stake in shares of Peapack-Gladstone Financial by 2.5% in the 4th quarter. Barclays PLC now owns 34,491 shares of the financial services provider's stock worth $1,105,000 after acquiring an additional 835 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $4,166,000 after acquiring an additional 895 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ PGC traded down $0.11 during midday trading on Friday, reaching $27.56. The company's stock had a trading volume of 81,063 shares, compared to its average volume of 96,163. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88. The company has a market cap of $488.80 million, a price-to-earnings ratio of 14.90 and a beta of 0.87. The company has a 50 day moving average price of $27.43 and a 200 day moving average price of $31.05. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $64.36 million during the quarter, compared to the consensus estimate 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 research analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a $0.05 dividend. The ex-dividend date was Thursday, May 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. Peapack-Gladstone Financial's dividend payout ratio (DPR) is 11.11%.

Analysts Set New Price Targets

A number of research firms recently commented on PGC. Wall Street Zen upgraded shares of Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research note on Friday. Raymond James assumed 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 on the stock. Finally, Keefe, Bruyette & Woods cut their price objective 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.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, Director F Duffield Meyercord bought 6,316 shares of Peapack-Gladstone Financial stock in a transaction dated Monday, March 31st. The stock was bought at an average price 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. This trade represents a 4.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas L. Kennedy sold 20,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $28.91, for a total value of $578,200.00. Following the transaction, the chief executive officer now directly owns 43,703 shares in the company, valued at $1,263,453.73. The trade was a 31.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $1,152,650 in the last quarter. 7.63% of the stock is owned by company insiders.

Peapack-Gladstone Financial 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.