Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,705 shares of the financial services provider’s stock after purchasing an additional 1,748 shares during the quarter. Federated Hermes Inc. owned approximately 0.28% of Peapack-Gladstone Financial worth $1,561,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Synergy Asset Management LLC grew its position in shares of Peapack-Gladstone Financial by 7.9% during the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock valued at $11,199,000 after buying an additional 25,687 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Peapack-Gladstone Financial by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock valued at $4,043,000 after acquiring an additional 8,393 shares during the period. State Street Corp grew its holdings in shares of Peapack-Gladstone Financial by 2.4% during 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 during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Peapack-Gladstone Financial during the 4th quarter worth approximately $3,590,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Peapack-Gladstone Financial in the 4th quarter worth approximately $532,000. Institutional investors own 72.75% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James initiated coverage on Peapack-Gladstone Financial in a research report on Friday. They issued a “strong-buy” rating and a $39.00 target price on the stock.

Insider Activity at Peapack-Gladstone Financial

In related news, CEO Douglas L. Kennedy sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $28.79, for a total transaction of $143,950.00. Following the transaction, the chief executive officer now owns 40,409 shares in the company, valued at $1,163,375.11. This trade represents a 11.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory Martin Smith sold 17,633 shares of the company’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 value of $563,374.35. Following the completion of the sale, the executive vice president now owns 297 shares of the company’s stock, valued at $9,489.15. This trade represents a 98.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,633 shares of company stock worth $1,716,024 over the last ninety days. 7.63% of the stock is currently owned by corporate insiders.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ:PGC opened at $25.38 on Tuesday. The firm’s 50 day moving average is $30.06 and its two-hundred day moving average is $31.79. The firm has a market capitalization of $446.59 million, a P/E ratio of 13.72 and a beta of 0.82. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88.

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, beating the consensus estimate 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 earnings per share for the current year.

About Peapack-Gladstone Financial

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.