Assenagon Asset Management S.A. Lowers Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Assenagon Asset Management S.A. lowered its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 84.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,045 shares of the financial services provider's stock after selling 55,293 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Peapack-Gladstone Financial worth $300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PGC. Quantbot Technologies LP bought a new stake in shares of Peapack-Gladstone Financial in the third quarter valued at approximately $25,000. Lazard Asset Management LLC bought a new stake in Peapack-Gladstone Financial during the 1st quarter worth approximately $35,000. Citigroup Inc. increased its holdings in Peapack-Gladstone Financial by 66.2% during the 1st quarter. Citigroup Inc. now owns 2,577 shares of the financial services provider's stock worth $76,000 after acquiring an additional 1,026 shares during the period. Tower Research Capital LLC TRC increased its holdings in Peapack-Gladstone Financial by 355.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,427 shares of the financial services provider's stock worth $81,000 after acquiring an additional 1,894 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Peapack-Gladstone Financial by 45.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,849 shares of the financial services provider's stock worth $174,000 after acquiring an additional 1,815 shares during the period. Institutional investors own 72.75% of the company's stock.

Insider Transactions at Peapack-Gladstone Financial

In other news, EVP Gregory Martin Smith sold 4,500 shares of the company's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $30.02, for a total value of $135,090.00. Following the completion of the sale, the executive vice president now owns 15,703 shares of the company's stock, valued at approximately $471,404.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.18% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PGC shares. Keefe, Bruyette & Woods decreased their target price on shares of Peapack-Gladstone Financial from $33.50 to $30.50 and set an "outperform" rating on the stock in a report on Friday. TheStreet lowered shares of Peapack-Gladstone Financial from a "b-" rating to a "c+" rating in a report on Friday, February 23rd.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ:PGC traded up $0.35 during trading on Tuesday, reaching $24.32. The company had a trading volume of 85,096 shares, compared to its average volume of 80,759. The company has a fifty day moving average of $24.12 and a two-hundred day moving average of $25.75. The stock has a market capitalization of $431.68 million, a P/E ratio of 8.85 and a beta of 0.99. Peapack-Gladstone Financial Co. has a 12 month low of $21.58 and a 12 month high of $31.49. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.06). The company had revenue of $54.27 million during the quarter, compared to the consensus estimate of $54.91 million. Peapack-Gladstone Financial had a return on equity of 9.03% and a net margin of 12.94%. Equities research analysts forecast that Peapack-Gladstone Financial Co. will post 2.25 earnings per share for the current year.

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.