American Century Companies Inc. Buys 35,159 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC)

American Century Companies Inc. grew its stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339,148 shares of the financial services provider’s stock after purchasing an additional 35,159 shares during the quarter. American Century Companies Inc. owned about 1.93% of Peapack-Gladstone Financial worth $10,870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Albion Financial Group UT bought a new stake in shares of Peapack-Gladstone Financial during the fourth quarter valued at approximately $35,000. Point72 Asset Management L.P. boosted its holdings in shares of Peapack-Gladstone Financial by 157.5% during the 3rd 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 in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Peapack-Gladstone Financial by 507.2% during the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider’s stock valued at $189,000 after buying an additional 4,930 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Peapack-Gladstone Financial in the 3rd quarter worth about $211,000. Finally, Delta Financial Group Inc. bought a new position in shares of Peapack-Gladstone Financial in the 4th quarter worth about $353,000. 72.75% of the stock is owned by hedge funds and other institutional investors.

Peapack-Gladstone Financial Trading Up 0.7 %

Peapack-Gladstone Financial stock opened at $29.25 on Thursday. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88. The company has a market capitalization of $514.68 million, a price-to-earnings ratio of 15.81 and a beta of 1.00. The business’s fifty day simple moving average is $31.42 and its two-hundred day simple moving average is $31.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly 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%. As a group, equities analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy sold 20,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the transaction, the chief executive officer now owns 43,703 shares in the company, valued at approximately $1,263,453.73. This represents a 31.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Duffield Meyercord purchased 6,316 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were bought at an average cost of $28.44 per share, for a total transaction of $179,627.04. Following the acquisition, the director now owns 140,372 shares in the company, valued at approximately $3,992,179.68. The trade was a 4.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 57,633 shares of company stock worth $1,716,024. Corporate insiders own 7.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective 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.

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.