State of New Jersey Common Pension Fund D Sells 15,203 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 21.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 57,058 shares of the financial services provider’s stock after selling 15,203 shares during the period. State of New Jersey Common Pension Fund D owned 0.32% of Peapack-Gladstone Financial worth $1,829,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jane Street Group LLC boosted its stake in shares of Peapack-Gladstone Financial by 1.6% in the third quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider’s stock valued at $658,000 after buying an additional 387 shares during the period. Albion Financial Group UT bought a new stake in shares of Peapack-Gladstone Financial in the fourth quarter valued at approximately $35,000. Point72 Asset Management L.P. boosted its stake in shares of Peapack-Gladstone Financial by 157.5% in the third quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,468 shares during the period. Empowered Funds LLC raised its position in Peapack-Gladstone Financial by 4.9% during the fourth quarter. Empowered Funds LLC now owns 51,121 shares of the financial services provider’s stock valued at $1,638,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Peapack-Gladstone Financial by 1.1% during the third quarter. Geode Capital Management LLC now owns 378,780 shares of the financial services provider’s stock valued at $10,385,000 after purchasing an additional 4,172 shares in the last quarter. Institutional investors own 72.75% of the company’s stock.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC opened at $32.48 on Wednesday. The company has a market capitalization of $571.16 million, a price-to-earnings ratio of 17.56 and a beta of 0.99. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88. The stock has a fifty day simple moving average of $32.55 and a 200 day simple moving average of $31.36. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, beating 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%. Sell-side analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Thursday, February 6th were issued a $0.05 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. Peapack-Gladstone Financial’s dividend payout ratio is presently 10.81%.

Insider Buying and Selling

In other Peapack-Gladstone Financial news, EVP Gregory Martin Smith sold 17,633 shares of the stock in a transaction dated 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 in the company, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

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.