Renaissance Technologies LLC Lowers Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Renaissance Technologies LLC lowered its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,820 shares of the financial services provider's stock after selling 27,200 shares during the period. Renaissance Technologies LLC owned 0.43% of Peapack-Gladstone Financial worth $2,398,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Jane Street Group LLC increased its holdings in shares of Peapack-Gladstone Financial by 1.6% in the 3rd quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider's stock worth $658,000 after purchasing an additional 387 shares in the last quarter. Barclays PLC boosted its stake in Peapack-Gladstone Financial by 69.9% during the third quarter. Barclays PLC now owns 33,656 shares of the financial services provider's stock worth $923,000 after buying an additional 13,846 shares during the period. Geode Capital Management LLC lifted its position in shares of Peapack-Gladstone Financial by 1.1% during the third quarter. Geode Capital Management LLC now owns 378,780 shares of the financial services provider's stock worth $10,385,000 after purchasing an additional 4,172 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Peapack-Gladstone Financial by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider's stock worth $4,043,000 after acquiring an additional 8,393 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Peapack-Gladstone Financial in the fourth quarter worth about $3,590,000. 72.75% of the stock is owned by institutional investors.

Peapack-Gladstone Financial Stock Up 0.9 %

Shares of PGC traded up $0.25 during trading on Thursday, reaching $27.93. The company's stock had a trading volume of 11,313 shares, compared to its average volume of 99,985. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market cap of $491.37 million, a price-to-earnings ratio of 15.10 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. The company has a fifty day moving average of $28.28 and a two-hundred day moving average of $31.69.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $64.36 million during the quarter, compared to the consensus estimate of $64.07 million. On average, sell-side analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on PGC shares. Keefe, Bruyette & Woods reduced their target price 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 started coverage on Peapack-Gladstone Financial in a research note on Friday, April 11th. They set a "strong-buy" rating and a $39.00 target price for the company.

Insiders Place Their Bets

In related news, CEO Douglas L. Kennedy sold 20,000 shares of the business'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 $1,263,453.73. The trade was a 31.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director F Duffield Meyercord purchased 6,316 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were bought at an average cost of $28.44 per share, for a total transaction of $179,627.04. Following the completion of the acquisition, the director now directly owns 140,372 shares in the company, valued at $3,992,179.68. The trade was a 4.71 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock worth $1,152,650. Corporate insiders own 7.63% of the company's stock.

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.