Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,806 shares of the financial services provider’s stock after selling 352 shares during the quarter. SG Americas Securities LLC owned 0.06% of Peapack-Gladstone Financial worth $314,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of Peapack-Gladstone Financial in the 4th quarter valued at about $3,590,000. Victory Capital Management Inc. acquired a new stake in Peapack-Gladstone Financial in the third quarter valued at approximately $959,000. AQR Capital Management LLC increased its position in shares of Peapack-Gladstone Financial by 45.6% in the second quarter. AQR Capital Management LLC now owns 95,930 shares of the financial services provider’s stock valued at $2,173,000 after buying an additional 30,031 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Peapack-Gladstone Financial during the 2nd quarter worth approximately $626,000. Finally, Wellington Management Group LLP lifted its position in shares of Peapack-Gladstone Financial by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 631,645 shares of the financial services provider’s stock valued at $17,313,000 after buying an additional 15,667 shares in the last quarter. 72.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PGC shares. Keefe, Bruyette & Woods boosted their price target on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler upgraded shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $35.00 in a research report on Wednesday, October 23rd.

Peapack-Gladstone Financial Stock Up 3.6 %

Shares of PGC opened at $32.71 on Wednesday. The stock has a 50 day moving average price of $33.21 and a 200 day moving average price of $30.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $575.04 million, a price-to-earnings ratio of 17.68 and a beta of 0.99. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. Equities research analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Thursday, February 6th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, February 6th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 10.81%.

Insider Transactions at Peapack-Gladstone Financial

In related news, EVP Gregory Martin Smith sold 17,633 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $31.95, for a total transaction of $563,374.35. Following the completion of the sale, the executive vice president now directly owns 297 shares in the company, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.18% 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.