Vanguard Group Inc. Has $30.04 Million Stock Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Vanguard Group Inc. increased its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 937,205 shares of the financial services provider's stock after purchasing an additional 62,803 shares during the quarter. Vanguard Group Inc. owned 5.33% of Peapack-Gladstone Financial worth $30,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Albion Financial Group UT purchased a new position in Peapack-Gladstone Financial during the 4th quarter valued at about $35,000. KLP Kapitalforvaltning AS purchased a new stake in Peapack-Gladstone Financial in the 4th quarter worth approximately $112,000. Quantbot Technologies LP boosted its stake in shares of Peapack-Gladstone Financial by 507.2% during the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock valued at $189,000 after buying an additional 4,930 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Peapack-Gladstone Financial in the third quarter worth $211,000. Finally, Delta Financial Group Inc. purchased a new stake in shares of Peapack-Gladstone Financial during the fourth quarter worth $353,000. 72.75% of the stock is owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Price Performance

NASDAQ PGC traded up $0.27 on Friday, reaching $26.09. The company's stock had a trading volume of 78,842 shares, compared to its average volume of 102,031. The firm has a market cap of $459.08 million, a PE ratio of 14.10 and a beta of 0.82. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The business has a 50-day moving average price of $29.38 and a 200 day moving average price of $31.72.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. Sell-side analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James began 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.

Insider Activity

In related news, EVP Gregory Martin Smith sold 17,633 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $31.95, for a total value of $563,374.35. Following the completion of the sale, the executive vice president now owns 297 shares of the company's stock, valued at $9,489.15. This trade represents a 98.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John P. Babcock sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $28.76, for a total transaction of $287,600.00. Following the completion of the transaction, the executive vice president now owns 39,155 shares of the company's stock, valued at $1,126,097.80. This trade represents a 20.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,633 shares of company stock worth $1,716,024. 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.