Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stake Reduced by MUFG Securities EMEA plc

MUFG Securities EMEA plc lessened its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 27.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,300 shares of the financial services provider’s stock after selling 12,700 shares during the period. MUFG Securities EMEA plc owned about 0.17% of Peapack-Gladstone Financial worth $936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp raised its holdings in Peapack-Gladstone Financial by 2.4% during the 2nd quarter. Northern Trust Corp now owns 256,650 shares of the financial services provider’s stock worth $7,217,000 after buying an additional 6,116 shares during the period. Brown Advisory Inc. raised its holdings in Peapack-Gladstone Financial by 52.8% during the 2nd quarter. Brown Advisory Inc. now owns 463,143 shares of the financial services provider’s stock worth $13,024,000 after buying an additional 160,029 shares during the period. Renaissance Technologies LLC raised its holdings in Peapack-Gladstone Financial by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 353,720 shares of the financial services provider’s stock worth $9,947,000 after buying an additional 23,000 shares during the period. Pitcairn Co. acquired a new stake in Peapack-Gladstone Financial during the 2nd quarter worth about $295,000. Finally, Banc Funds Co. LLC raised its holdings in Peapack-Gladstone Financial by 9.9% during the 2nd quarter. Banc Funds Co. LLC now owns 1,183,557 shares of the financial services provider’s stock worth $33,282,000 after buying an additional 106,600 shares during the period. Hedge funds and other institutional investors own 72.64% of the company’s stock.

Separately, BidaskClub downgraded Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $36.50.

NASDAQ:PGC traded up $0.43 on Friday, hitting $29.70. 2,855 shares of the company’s stock traded hands, compared to its average volume of 76,300. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. Peapack-Gladstone Financial Co. has a 1 year low of $23.96 and a 1 year high of $32.80. The firm has a 50-day moving average price of $27.65 and a 200-day moving average price of $27.74. The company has a market cap of $562.68 million, a PE ratio of 12.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.02). The firm had revenue of $42.29 million during the quarter, compared to the consensus estimate of $42.92 million. Peapack-Gladstone Financial had a net margin of 20.28% and a return on equity of 9.36%. On average, research analysts forecast that Peapack-Gladstone Financial Co. will post 2.38 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.05 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. Peapack-Gladstone Financial’s payout ratio is 8.66%.

In other Peapack-Gladstone Financial news, EVP Vincent A. Spero sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $27.32, for a total transaction of $81,960.00. Following the completion of the sale, the executive vice president now owns 46,029 shares of the company’s stock, valued at $1,257,512.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Babcock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $28.30, for a total value of $56,600.00. Following the sale, the executive vice president now directly owns 45,620 shares of the company’s stock, valued at approximately $1,291,046. The disclosure for this sale can be found here. In the last three months, insiders sold 15,000 shares of company stock valued at $413,120. 4.13% of the stock is currently owned by company insiders.

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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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

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