Russell Investments Group Ltd. raised its stake in the shares of Peapack-Gladstone Financial Co. (NASDAQ: PGC – Get a rating) by 17.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The company held 31,685 shares of the financial services provider after purchasing an additional 4,744 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Peapack-Gladstone Financial worth $1,099,000 when it last filed with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also changed their positions in PGC. Strategic Value Bank Partners LLC acquired a new stake in shares of Peapack-Gladstone Financial during Q4 for a value of approximately $11,954,000. Kennedy Capital Management Inc. increased its stake in Peapack-Gladstone Financial by 100.4% in the fourth quarter. Kennedy Capital Management Inc. now owns 269,986 shares of the financial services provider worth $9,558,000 after purchasing an additional 135,263 shares last quarter. New Jersey State Joint Pension Fund D bought a new position in Peapack-Gladstone Financial in Q1 for about $1,446,000. Gator Capital Management LLC bought a new position in Peapack-Gladstone Financial in Q4 for a value of approximately $1,148,000. Finally, Peapack Gladstone Financial Corp increased its stake in Peapack-Gladstone Financial by 3.1% in the 4th quarter. Peapack Gladstone Financial Corp now owns 967,923 shares of the financial services provider worth $34,265,000 after buying an additional 28,899 shares last quarter. 73.15% of the shares are currently held by institutional investors and hedge funds.
Peapack-Gladstone Financial Stock Performance
Shares of CPG inventory opened at $36.28 on Friday. Peapack-Gladstone Financial Co. has a 12-month low of $27.71 and a 12-month high of $38.60. The company has a market capitalization of $659.93 million, a price-earnings ratio of 10.96 and a beta of 1.13. The company has a 50-day simple moving average of $31.25 and a 200-day simple moving average of $33.50. The company has a debt ratio of 0.27, a current ratio of 0.98 and a quick ratio of 0.98.
Peapack-Gladstone Financial (NASDAQ: PGC – Get a rating) last released its quarterly earnings data on Friday, July 29. The financial services provider reported earnings per share (EPS) of $1.08 for the quarter, beating analyst consensus estimates of $0.82 by $0.26. Peapack-Gladstone Financial had a return on equity of 11.73% and a net margin of 25.56%. The company posted revenue of $61.40 million in the quarter, versus analyst estimates of $59.40 million. On average, equity research analysts expect Peapack-Gladstone Financial Co. to post an EPS of 3.8 for the current year.
Peapack-Gladstone Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 25. Shareholders of record on Thursday, August 11 will receive a dividend of $0.05 per share. This represents a dividend of $0.20 on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, August 10. Peapack-Gladstone Financial’s payout ratio is currently 6.04%.
Insider Buying and Selling at Peapack-Gladstone Financial
In other news, Director Peter D. Horst bought 2,500 shares of the company in a transaction on Monday, May 23. The shares were purchased at an average cost of $31.49 per share, with a total value of $78,725.00. As a result of the purchase, the administrator now owns 10,848 shares of the company, valued at approximately $341,603.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. In other Peapack-Gladstone Financial news, Executive Vice President Vincent A. Spero sold 3,113 shares in a trade on Friday, June 3. The stock was sold at an average price of $33.36, for a total transaction of $103,849.68. Following completion of the transaction, the executive vice president now directly owns 40,496 shares of the company, valued at approximately $1,350,946.56. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Additionally, director Peter D. Horst acquired 2,500 shares of Peapack-Gladstone Financial in a transaction dated Monday, May 23. The shares were purchased at an average cost of $31.49 per share, with a total value of $78,725.00. Following the completion of the purchase, the administrator now owns 10,848 shares of the company, valued at $341,603.52. Disclosure of this purchase can be found here. 6.25% of the shares are currently held by company insiders.
About Peapack-Gladstone Financial
Peapack-Gladstone Financial Corporation operates as a bank holding company for Peapack-Gladstone Bank which 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.
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