Two Sigma Investments LP Lowers Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Two Sigma Investments LP trimmed its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,968 shares of the financial services provider's stock after selling 24,832 shares during the quarter. Two Sigma Investments LP owned about 0.32% of Peapack-Gladstone Financial worth $1,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in shares of Peapack-Gladstone Financial during the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at $112,000. Quantbot Technologies LP increased its stake in Peapack-Gladstone Financial by 507.2% in the fourth quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock valued at $189,000 after acquiring an additional 4,930 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Peapack-Gladstone Financial during the fourth quarter valued at about $201,000. Finally, Stifel Financial Corp bought a new stake in Peapack-Gladstone Financial during the fourth quarter worth about $211,000. 72.75% of the stock is currently owned by institutional investors.

Peapack-Gladstone Financial Trading Up 2.1%

Peapack-Gladstone Financial stock traded up $0.56 during mid-day trading on Friday, hitting $27.87. The company's stock had a trading volume of 75,963 shares, compared to its average volume of 94,906. The business has a 50 day moving average price of $27.32 and a 200-day moving average price of $30.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. Peapack-Gladstone Financial Co. has a 12 month low of $20.40 and a 12 month high of $37.88. The stock has a market cap of $494.30 million, a price-to-earnings ratio of 15.06 and a beta of 0.87.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $64.36 million during the quarter, compared to analysts' expectations of $64.07 million. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. As a group, analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently issued reports on PGC. Wall Street Zen upgraded Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods dropped their target price on Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Raymond James assumed coverage on shares of 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.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy sold 5,000 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $28.79, for a total value of $143,950.00. Following the transaction, the chief executive officer now owns 40,409 shares in the company, valued at approximately $1,163,375.11. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director F Duffield Meyercord bought 6,316 shares of the company's stock in a transaction dated Monday, March 31st. The shares were purchased at an average price of $28.44 per share, with a total value of $179,627.04. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock worth $1,152,650. 7.63% of the stock is currently owned by 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.