Squarepoint Ops LLC Buys Shares of 27,630 Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Squarepoint Ops LLC purchased a new position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,630 shares of the financial services provider’s stock, valued at approximately $626,000. Squarepoint Ops LLC owned approximately 0.16% of Peapack-Gladstone Financial at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Peapack-Gladstone Financial by 68.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider’s stock valued at $75,000 after buying an additional 1,350 shares during the period. Denali Advisors LLC acquired a new stake in Peapack-Gladstone Financial in the first quarter worth $204,000. BNP Paribas Financial Markets lifted its stake in Peapack-Gladstone Financial by 90.4% in the first quarter. BNP Paribas Financial Markets now owns 8,399 shares of the financial services provider’s stock valued at $204,000 after buying an additional 3,987 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Peapack-Gladstone Financial during the second quarter valued at $214,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Peapack-Gladstone Financial during the second quarter worth about $223,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $32.00 target price (up from $28.00) on shares of Peapack-Gladstone Financial in a research note on Monday, July 29th.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $26.89, for a total value of $268,900.00. Following the transaction, the executive vice president now directly owns 52,155 shares of the company’s stock, valued at $1,402,447.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.63% of the stock is owned by insiders.

Peapack-Gladstone Financial Stock Performance

Shares of PGC opened at $27.30 on Wednesday. The firm has a market capitalization of $482.66 million, a PE ratio of 12.55 and a beta of 0.99. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $26.85 and a 200 day moving average price of $24.49. Peapack-Gladstone Financial Co. has a 52-week low of $20.30 and a 52-week high of $30.68.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $100.79 million for the quarter, compared to analyst estimates of $56.80 million. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.50%. On average, sell-side analysts anticipate that Peapack-Gladstone Financial Co. will post 1.68 earnings per share for the current fiscal 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.