Barclays PLC Buys 13,846 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Barclays PLC raised its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 69.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,656 shares of the financial services provider’s stock after purchasing an additional 13,846 shares during the quarter. Barclays PLC owned 0.19% of Peapack-Gladstone Financial worth $923,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its stake in Peapack-Gladstone Financial by 2.5% during the third quarter. Wellington Management Group LLP now owns 631,645 shares of the financial services provider’s stock valued at $17,313,000 after acquiring an additional 15,667 shares during the period. State Street Corp raised its stake in shares of Peapack-Gladstone Financial by 2.4% in the third quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock valued at $14,369,000 after purchasing an additional 12,332 shares in the last quarter. Geode Capital Management LLC lifted its position in Peapack-Gladstone Financial by 1.1% in the third quarter. Geode Capital Management LLC now owns 378,780 shares of the financial services provider’s stock worth $10,385,000 after purchasing an additional 4,172 shares during the period. American Century Companies Inc. boosted its stake in Peapack-Gladstone Financial by 15.3% during the second quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider’s stock worth $6,242,000 after buying an additional 36,564 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Peapack-Gladstone Financial by 45.6% in the 2nd 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 during the period. Institutional investors and hedge funds own 72.75% of the company’s stock.

Peapack-Gladstone Financial Stock Up 4.3 %

Shares of NASDAQ:PGC opened at $31.48 on Wednesday. The company’s fifty day moving average is $34.51 and its 200-day moving average is $29.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The company has a market capitalization of $553.58 million, a PE ratio of 17.39 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $102.14 million for the quarter, compared to analysts’ expectations of $58.24 million. Equities research analysts predict that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current fiscal year.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of the firm’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 completion of the sale, the executive vice president now owns 49,155 shares in the company, valued at approximately $1,587,214.95. This trade represents a 5.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PGC. Piper Sandler upgraded shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their price objective on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company 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.