Universal Beteiligungs und Servicegesellschaft mbH Acquires 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 purchased a new stake in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Peapack-Gladstone Financial by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider's stock valued at $35,811,000 after buying an additional 10,221 shares in the last quarter. 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 valued at $30,037,000 after purchasing an additional 62,803 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Peapack-Gladstone Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider's stock worth $20,975,000 after purchasing an additional 22,805 shares during the period. Brown Advisory Inc. lifted its stake in Peapack-Gladstone Financial by 19.7% during the first quarter. Brown Advisory Inc. now owns 592,666 shares of the financial services provider's stock valued at $16,832,000 after buying an additional 97,349 shares in the last quarter. Finally, Basswood Capital Management L.L.C. acquired a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth $7,928,000. Institutional investors own 72.75% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Peapack-Gladstone Financial

In other news, CEO Douglas L. Kennedy purchased 3,720 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average price of $26.24 per share, with a total value of $97,612.80. Following the purchase, the chief executive officer directly owned 39,129 shares of the company's stock, valued at $1,026,744.96. This trade represents a 10.51% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.63% of the company's stock.

Peapack-Gladstone Financial Trading Up 0.6%

NASDAQ:PGC traded up $0.15 during mid-day trading on Thursday, reaching $24.99. 87,243 shares of the company's stock traded hands, compared to its average volume of 94,113. The firm has a market capitalization of $443.24 million, a price-to-earnings ratio of 13.67 and a beta of 0.91. Peapack-Gladstone Financial Corporation has a 12-month low of $23.96 and a 12-month high of $37.88. The company has a 50 day moving average price of $27.87 and a 200-day moving average price of $29.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.94.

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

Peapack-Gladstone Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 7th. Peapack-Gladstone Financial's dividend payout ratio (DPR) is presently 10.93%.

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.