Proficio Capital Partners LLC Makes New $532,000 Investment in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Proficio Capital Partners LLC purchased a new position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,602 shares of the financial services provider’s stock, valued at approximately $532,000. Proficio Capital Partners LLC owned about 0.09% of Peapack-Gladstone Financial at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Albion Financial Group UT purchased a new stake in Peapack-Gladstone Financial during the 4th quarter worth about $35,000. Point72 Asset Management L.P. lifted its holdings in 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 worth $66,000 after buying an additional 1,468 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Peapack-Gladstone Financial during the 3rd quarter worth about $211,000. Delta Financial Group Inc. purchased a new stake in Peapack-Gladstone Financial during the 4th quarter worth about $353,000. Finally, Jane Street Group LLC lifted its holdings in Peapack-Gladstone Financial by 1.6% during the 3rd quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider’s stock worth $658,000 after buying an additional 387 shares during the last quarter. 72.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Gregory Martin Smith sold 17,633 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $31.95, for a total transaction of $563,374.35. Following the sale, the executive vice president now owns 297 shares of the company’s stock, valued at $9,489.15. The trade was a 98.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.18% of the stock is currently owned by insiders.

Peapack-Gladstone Financial Stock Down 0.2 %

PGC opened at $30.39 on Monday. The business’s 50-day simple moving average is $32.30 and its 200-day simple moving average is $31.71. 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 one year low of $20.30 and a one year high of $37.88. The stock has a market capitalization of $534.41 million, a P/E ratio of 16.43 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. Analysts anticipate 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. Shareholders of record on Thursday, February 6th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, February 6th. Peapack-Gladstone Financial’s payout ratio is 10.81%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price target on 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.