MUFG Securities EMEA plc lessened its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 27.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 33,300 shares of the financial services provider’s stock after selling 12,700 shares during the period. MUFG Securities EMEA plc’s holdings in Peapack-Gladstone Financial were worth $936,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Rhumbline Advisers boosted its holdings in Peapack-Gladstone Financial by 1.6% in the first quarter. Rhumbline Advisers now owns 26,318 shares of the financial services provider’s stock valued at $690,000 after acquiring an additional 417 shares during the last quarter. US Bancorp DE boosted its holdings in Peapack-Gladstone Financial by 4.2% in the first quarter. US Bancorp DE now owns 11,149 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 445 shares during the last quarter. Aperio Group LLC boosted its holdings in Peapack-Gladstone Financial by 5.1% in the second quarter. Aperio Group LLC now owns 12,112 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 585 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Peapack-Gladstone Financial by 14.2% in the second quarter. JPMorgan Chase & Co. now owns 5,194 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 646 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Peapack-Gladstone Financial by 2.7% in the second quarter. Swiss National Bank now owns 30,600 shares of the financial services provider’s stock valued at $860,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 72.64% of the company’s stock.
Separately, BidaskClub cut Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Peapack-Gladstone Financial currently has an average rating of “Hold” and a consensus target price of $36.50.
NASDAQ:PGC traded up $0.43 during mid-day trading on Friday, hitting $29.70. The company had a trading volume of 2,855 shares, compared to its average volume of 76,300. Peapack-Gladstone Financial Co. has a fifty-two week low of $23.96 and a fifty-two week high of $32.80. The business’s fifty day moving average is $27.65 and its two-hundred day moving average is $27.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $562.68 million, a P/E ratio of 12.85, a P/E/G ratio of 2.14 and a beta of 1.00.
Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Friday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). Peapack-Gladstone Financial had a net margin of 20.28% and a return on equity of 9.36%. The company had revenue of $42.29 million during the quarter, compared to analyst estimates of $42.92 million. Equities analysts forecast that Peapack-Gladstone Financial Co. will post 2.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.67%. The ex-dividend date was Wednesday, August 7th. Peapack-Gladstone Financial’s payout ratio is 8.66%.
In other news, EVP Vincent A. Spero sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.92, for a total transaction of $83,760.00. Following the sale, the executive vice president now owns 40,029 shares of the company’s stock, valued at $1,117,609.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John P. Babcock sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $28.91, for a total value of $57,820.00. Following the sale, the executive vice president now directly owns 41,620 shares in the company, valued at approximately $1,203,234.20. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $413,120 in the last three months. Insiders own 4.13% 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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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