UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 13,623 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 108.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,195 shares of the financial services provider’s stock after acquiring an additional 13,623 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Peapack-Gladstone Financial worth $718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PGC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Peapack-Gladstone Financial by 68.4% during 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 during the period. Algert Global LLC purchased a new position in Peapack-Gladstone Financial during the second quarter valued at approximately $209,000. Sei Investments Co. bought a new position in shares of Peapack-Gladstone Financial in the second quarter worth approximately $214,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Peapack-Gladstone Financial in the second quarter worth $223,000. Finally, SG Americas Securities LLC raised its position in shares of Peapack-Gladstone Financial by 48.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,158 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 3,312 shares during the period. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PGC. Keefe, Bruyette & Woods upped their target price 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 raised Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $35.00 in a research note on Wednesday, October 23rd.

Insider Activity at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 3,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $32.29, for a total value of $96,870.00. Following the sale, the executive vice president now directly owns 49,155 shares in the company, valued at $1,587,214.95. The trade was a 5.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.63% of the stock is owned by corporate insiders.

Peapack-Gladstone Financial Trading Up 0.4 %

Peapack-Gladstone Financial stock opened at $32.65 on Friday. Peapack-Gladstone Financial Co. has a 1 year low of $20.30 and a 1 year high of $37.88. The firm’s 50 day moving average price is $34.28 and its 200-day moving average price is $28.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $574.15 million, a P/E ratio of 18.04 and a beta of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. The company had revenue of $102.14 million for the quarter, compared to the consensus estimate of $58.24 million. On average, equities analysts predict that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. Peapack-Gladstone Financial’s dividend payout ratio is currently 11.05%.

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.