Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Sold by Inceptionr LLC

Inceptionr LLC lowered its position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 8,110 shares of the financial services provider’s stock after selling 524 shares during the quarter. Inceptionr LLC’s holdings in Peapack-Gladstone Financial were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in shares of Peapack-Gladstone Financial during the 4th quarter valued at about $3,590,000. Victory Capital Management Inc. purchased a new position in shares of Peapack-Gladstone Financial during the 3rd quarter valued at about $959,000. Synergy Asset Management LLC raised its stake 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. Proficio Capital Partners LLC purchased a new position in shares of Peapack-Gladstone Financial during the 4th quarter valued at about $532,000. Finally, Wellington Management Group LLP raised its stake in shares of Peapack-Gladstone Financial by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 631,645 shares of the financial services provider’s stock valued at $17,313,000 after buying an additional 15,667 shares during the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Gregory Martin Smith sold 17,633 shares of the business’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 transaction of $563,374.35. Following the completion of the sale, the executive vice president now directly owns 297 shares in the company, valued at approximately $9,489.15. The trade was a 98.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.18% of the stock is owned by company insiders.

Peapack-Gladstone Financial Price Performance

Shares of Peapack-Gladstone Financial stock opened at $30.39 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88. The business has a 50-day moving average price of $32.30 and a 200 day moving average price of $31.71. The firm has a market cap of $534.41 million, a PE ratio of 16.43 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share 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%. Sell-side analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Thursday, February 6th were paid a $0.05 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. Peapack-Gladstone Financial’s dividend payout ratio is presently 10.81%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price objective on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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.