GSA Capital Partners LLP Reduces Stake in Peapack-Gladstone Financial Corp (PGC)

GSA Capital Partners LLP decreased its holdings in shares of Peapack-Gladstone Financial Corp (NASDAQ:PGC) by 22.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,445 shares of the financial services provider’s stock after selling 7,118 shares during the quarter. GSA Capital Partners LLP owned about 0.13% of Peapack-Gladstone Financial worth $825,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PGC. Swiss National Bank acquired a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at about $779,000. Bank of New York Mellon Corp boosted its position in shares of Peapack-Gladstone Financial by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,893 shares of the financial services provider’s stock valued at $2,938,000 after acquiring an additional 3,984 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Peapack-Gladstone Financial by 21.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 58,757 shares of the financial services provider’s stock valued at $1,839,000 after acquiring an additional 10,294 shares during the last quarter. Northern Trust Corp boosted its position in shares of Peapack-Gladstone Financial by 13.9% during the 2nd quarter. Northern Trust Corp now owns 218,831 shares of the financial services provider’s stock valued at $6,847,000 after acquiring an additional 26,757 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Peapack-Gladstone Financial by 74.4% during the 3rd quarter. Boston Partners now owns 172,500 shares of the financial services provider’s stock valued at $5,820,000 after acquiring an additional 73,600 shares during the last quarter. 69.48% of the stock is owned by institutional investors and hedge funds.

In other Peapack-Gladstone Financial news, Director James R. Lamb sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $35.30, for a total value of $35,300.00. Following the transaction, the director now owns 21,756 shares of the company’s stock, valued at $767,986.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 2,060 shares of company stock worth $72,378 in the last ninety days. 5.89% of the stock is currently owned by corporate insiders.

Peapack-Gladstone Financial Corp (PGC) opened at $35.22 on Thursday. Peapack-Gladstone Financial Corp has a 1 year low of $28.24 and a 1 year high of $37.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $642.01, a PE ratio of 18.54 and a beta of 0.99.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Friday, October 27th. The financial services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.11. Peapack-Gladstone Financial had a net margin of 20.36% and a return on equity of 9.54%. The company had revenue of $38.82 million for the quarter.

Several research analysts have recently weighed in on PGC shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $38.50 price target on shares of Peapack-Gladstone Financial in a research report on Thursday, October 26th. BidaskClub raised shares of Peapack-Gladstone Financial from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, ValuEngine cut shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th.

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Peapack-Gladstone Financial Profile

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

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Institutional Ownership by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

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