Two Sigma Investments LP Reduces Stock Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

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

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

Peapack-Gladstone Financial Trading Up 0.2%

NASDAQ:PGC traded up $0.06 during mid-day trading on Thursday, hitting $27.48. 31,844 shares of the stock traded hands, compared to its average volume of 95,140. The stock has a market capitalization of $487.30 million, a price-to-earnings ratio of 14.85 and a beta of 0.87. The firm's 50 day moving average is $27.34 and its two-hundred day moving average is $30.86. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

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 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 the consensus estimate of $64.07 million. On average, equities research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

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

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy sold 20,000 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $28.91, for a total value of $578,200.00. Following the completion of the sale, the chief executive officer now directly owns 43,703 shares in the company, valued at approximately $1,263,453.73. This represents a 31.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John P. Babcock sold 10,000 shares of Peapack-Gladstone Financial stock in a transaction dated 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 sale, the executive vice president now owns 39,155 shares of the company's stock, valued at $1,126,097.80. The trade was a 20.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $1,152,650 in the last three months. Company insiders own 7.63% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on PGC shares. Keefe, Bruyette & Woods lowered their price target on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Raymond James began coverage on Peapack-Gladstone Financial in a research note on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 price objective for the company. Finally, Wall Street Zen raised Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th.

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.