Royce & Associates LP lessened its stake in Peapack-Gladstone Financial Corp (NASDAQ:PGC) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 532,745 shares of the financial services provider’s stock after selling 21,619 shares during the quarter. Royce & Associates LP owned approximately 2.92% of Peapack-Gladstone Financial worth $17,975,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of PGC. Wells Fargo & Company MN grew its position in Peapack-Gladstone Financial by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 11,323 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 168 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Peapack-Gladstone Financial by 3.0% in the second quarter. California Public Employees Retirement System now owns 34,765 shares of the financial services provider’s stock valued at $1,088,000 after acquiring an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Peapack-Gladstone Financial by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 13,840 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 1,076 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Peapack-Gladstone Financial by 1.7% in the second quarter. Russell Investments Group Ltd. now owns 65,047 shares of the financial services provider’s stock valued at $2,035,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Peapack-Gladstone Financial by 10.4% in the second quarter. Rhumbline Advisers now owns 19,153 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.
Peapack-Gladstone Financial Corp (NASDAQ:PGC) traded up $0.24 during mid-day trading on Tuesday, reaching $35.26. 112,770 shares of the company’s stock were exchanged, compared to its average volume of 117,050. The stock has a market cap of $639.45, a P/E ratio of 18.56 and a beta of 0.99. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.26. Peapack-Gladstone Financial Corp has a 12 month low of $28.24 and a 12 month high of $37.30.
Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings results on Friday, October 27th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The business had revenue of $38.82 million for the quarter. Peapack-Gladstone Financial had a net margin of 20.36% and a return on equity of 9.54%.
PGC has been the subject of a number of research reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $38.50 target price on shares of Peapack-Gladstone Financial in a report on Thursday, October 26th. BidaskClub upgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, ValuEngine downgraded shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th.
In related news, Director James R. Lamb sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $35.30, for a total value of $35,300.00. Following the transaction, the director now directly owns 21,756 shares in the company, valued at approximately $767,986.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,060 shares of company stock worth $72,378 over the last quarter. 5.89% of the stock is currently owned by company insiders.
Peapack-Gladstone Financial Company Profile
Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.
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