Peapack-Gladstone Financial Corporation $PGC Shares Purchased by Trexquant Investment LP

Trexquant Investment LP boosted its stake in Peapack-Gladstone Financial Corporation (NASDAQ:PGC) by 50.9% in the 1st quarter, Holdings Channel reports. The firm owned 54,826 shares of the financial services provider’s stock after buying an additional 18,495 shares during the quarter. Trexquant Investment LP’s holdings in Peapack-Gladstone Financial were worth $1,557,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PGC. Brown Advisory Inc. increased its holdings in Peapack-Gladstone Financial by 19.7% in the 1st quarter. Brown Advisory Inc. now owns 592,666 shares of the financial services provider’s stock valued at $16,832,000 after purchasing an additional 97,349 shares in the last quarter. Philadelphia Trust Co. increased its holdings in Peapack-Gladstone Financial by 14.0% in the 1st quarter. Philadelphia Trust Co. now owns 372,560 shares of the financial services provider’s stock valued at $10,581,000 after purchasing an additional 45,825 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Peapack-Gladstone Financial by 487.9% in the 4th quarter. BNP Paribas Financial Markets now owns 41,955 shares of the financial services provider’s stock valued at $1,345,000 after purchasing an additional 34,819 shares in the last quarter. Nuveen LLC acquired a new stake in Peapack-Gladstone Financial in the 1st quarter valued at $983,000. Finally, SG Americas Securities LLC grew its stake in shares of Peapack-Gladstone Financial by 344.0% during the first quarter. SG Americas Securities LLC now owns 43,539 shares of the financial services provider’s stock valued at $1,237,000 after acquiring an additional 33,733 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Peapack-Gladstone Financial from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $36.33.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy bought 3,720 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were bought at an average cost of $26.24 per share, with a total value of $97,612.80. Following the completion of the acquisition, the chief executive officer owned 39,129 shares of the company’s stock, valued at approximately $1,026,744.96. This trade represents a 10.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.63% of the company’s stock.

Peapack-Gladstone Financial Stock Down 0.5%

NASDAQ:PGC opened at $28.90 on Friday. The company has a market capitalization of $510.09 million, a price-to-earnings ratio of 15.79 and a beta of 0.92. Peapack-Gladstone Financial Corporation has a one year low of $23.96 and a one year high of $37.88. The stock has a 50-day simple moving average of $27.86 and a 200 day simple moving average of $28.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.96.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Monday, July 21st. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.16). The firm had revenue of $69.74 million during the quarter, compared to analyst estimates of $69.77 million. Peapack-Gladstone Financial had a return on equity of 5.25% and a net margin of 7.62%. Sell-side analysts predict that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 7th. Peapack-Gladstone Financial’s dividend payout ratio is 10.93%.

Peapack-Gladstone Financial 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.