10,639 Shares in Peapack-Gladstone Financial Co. (NASDAQ:PGC) Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,639 shares of the financial services provider’s stock, valued at approximately $292,000. Exchange Traded Concepts LLC owned approximately 0.06% of Peapack-Gladstone Financial as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised 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 acquiring an additional 1,350 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of Peapack-Gladstone Financial in the 1st quarter valued at about $204,000. BNP Paribas Financial Markets raised its holdings in shares of Peapack-Gladstone Financial by 90.4% in the 1st quarter. BNP Paribas Financial Markets now owns 8,399 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 3,987 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Peapack-Gladstone Financial in the 2nd quarter valued at about $209,000. Finally, Sei Investments Co. purchased a new stake in shares of Peapack-Gladstone Financial in the 2nd quarter valued at about $214,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Peapack-Gladstone Financial Price Performance

Shares of Peapack-Gladstone Financial stock opened at $29.68 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $524.74 million, a PE ratio of 15.87 and a beta of 0.99. The business’s 50-day moving average price is $27.30 and its 200-day moving average price is $24.82. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $30.78.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.42 EPS for the quarter, meeting the consensus estimate 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%. Sell-side analysts forecast that Peapack-Gladstone Financial Co. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John P. Babcock sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the transaction, the executive vice president now directly owns 52,155 shares in the company, valued at $1,402,447.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.