Jump Financial LLC Makes New $357,000 Investment in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Jump Financial LLC purchased a new position in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,139 shares of the financial services provider's stock, valued at approximately $357,000. Jump Financial LLC owned approximately 0.06% of Peapack-Gladstone Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Peapack-Gladstone Financial during the 4th quarter valued at approximately $235,000. Barclays PLC grew its position in Peapack-Gladstone Financial by 2.5% during the fourth quarter. Barclays PLC now owns 34,491 shares of the financial services provider's stock valued at $1,105,000 after buying an additional 835 shares during the period. Invesco Ltd. increased its holdings in Peapack-Gladstone Financial by 12.7% in the fourth quarter. Invesco Ltd. now owns 47,581 shares of the financial services provider's stock valued at $1,525,000 after buying an additional 5,367 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Peapack-Gladstone Financial by 3.7% in the fourth quarter. Federated Hermes Inc. now owns 48,705 shares of the financial services provider's stock worth $1,561,000 after acquiring an additional 1,748 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Peapack-Gladstone Financial by 28.4% during the 4th quarter. Wells Fargo & Company MN now owns 11,772 shares of the financial services provider's stock worth $377,000 after acquiring an additional 2,606 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PGC. Keefe, Bruyette & Woods decreased their price target on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Raymond James assumed 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.

Peapack-Gladstone Financial Stock Up 0.8 %

Shares of NASDAQ PGC traded up $0.23 during midday trading on Thursday, hitting $27.91. 12,423 shares of the company's stock were exchanged, compared to its average volume of 99,989. The firm's fifty day simple moving average is $28.28 and its 200-day simple moving average is $31.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $491.03 million, a PE ratio of 15.15 and a beta of 0.82. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.08). Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. The company had revenue of $64.36 million for the quarter, compared to analysts' expectations of $64.07 million. Research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, May 8th. Peapack-Gladstone Financial's dividend payout ratio is presently 11.11%.

Insider Buying and Selling

In other Peapack-Gladstone Financial news, Director F Duffield Meyercord bought 6,316 shares of the company's stock in a transaction on Monday, March 31st. The stock was purchased at an average cost of $28.44 per share, for a total transaction of $179,627.04. Following the acquisition, the director now owns 140,372 shares of the company's stock, valued at $3,992,179.68. The trade was a 4.71 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas L. Kennedy sold 20,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction 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 $1,263,453.73. This trade represents a 31.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $1,152,650 over the last ninety days. Corporate insiders own 7.63% of the company's stock.

Peapack-Gladstone Financial Company 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.