Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 12,152 Peapack-Gladstone Financial Corporation (NASDAQ:PGC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH made a new investment in Peapack-Gladstone Financial, acquiring 12,152 shares worth around $345,000, representing approximately 0.07% of the company's total stock.
• Peapack-Gladstone Financial's stock fell by 2.9%, with a recent trading price of $24.75 amid overall market fluctuations.
• The company announced a $0.05 quarterly dividend to be paid on August 21st, representing an annualized yield of 0.8% with a dividend payout ratio of 10.93%.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,152 shares of the financial services provider's stock, valued at approximately $345,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.07% of Peapack-Gladstone Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Basswood Capital Management L.L.C. bought a new stake in Peapack-Gladstone Financial during the fourth quarter worth approximately $7,928,000. Brown Advisory Inc. increased its position in shares of Peapack-Gladstone Financial by 19.7% during the 1st quarter. Brown Advisory Inc. now owns 592,666 shares of the financial services provider's stock valued at $16,832,000 after purchasing an additional 97,349 shares during the period. Vanguard Group Inc. raised its stake in shares of Peapack-Gladstone Financial by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock worth $30,037,000 after buying an additional 62,803 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Peapack-Gladstone Financial by 37.5% in the fourth quarter. JPMorgan Chase & Co. now owns 202,865 shares of the financial services provider's stock valued at $6,502,000 after buying an additional 55,363 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Peapack-Gladstone Financial by 487.9% in the fourth quarter. BNP Paribas Financial Markets now owns 41,955 shares of the financial services provider's stock valued at $1,345,000 after buying an additional 34,819 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Stock Performance

PGC traded up $0.06 on Tuesday, hitting $25.01. 107,678 shares of the stock traded hands, compared to its average volume of 116,069. The business has a fifty day moving average price of $27.93 and a two-hundred day moving average price of $29.03. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Peapack-Gladstone Financial Corporation has a 52 week low of $23.96 and a 52 week high of $37.88. The firm has a market capitalization of $443.68 million, a PE ratio of 13.67 and a beta of 0.91.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its earnings results on Monday, July 21st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.16). The firm had revenue of $69.74 million during the quarter, compared to the consensus estimate of $69.77 million. Peapack-Gladstone Financial had a return on equity of 5.29% and a net margin of 7.62%. On average, research analysts predict that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.05 dividend. The ex-dividend date is Thursday, August 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Peapack-Gladstone Financial's payout ratio is 10.93%.

Analyst Ratings Changes

Several research analysts have issued reports on PGC shares. Raymond James Financial assumed coverage on shares of Peapack-Gladstone Financial in a research report on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 price target on the stock. Wall Street Zen raised Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Keefe, Bruyette & Woods cut their target price on Peapack-Gladstone Financial from $38.00 to $35.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd.

Insider Buying and Selling

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy bought 3,720 shares of Peapack-Gladstone Financial stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $26.24 per share, with a total value of $97,612.80. Following the acquisition, the chief executive officer directly owned 39,129 shares of the company's stock, valued at $1,026,744.96. The trade was a 10.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.95% of the stock is currently 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.