Peapack-Gladstone Financial Co. (NASDAQ:PGC) Short Interest Update

Peapack-Gladstone Financial Co. (NASDAQ:PGCGet Rating) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 297,900 shares, a growth of 21.8% from the March 15th total of 244,600 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 57,300 shares, the days-to-cover ratio is currently 5.2 days.

Peapack-Gladstone Financial stock traded up $0.90 during midday trading on Tuesday, reaching $34.04. 41,941 shares of the stock traded hands, compared to its average volume of 55,130. The business has a 50-day simple moving average of $36.15. Peapack-Gladstone Financial has a 12-month low of $28.89 and a 12-month high of $38.60. The firm has a market capitalization of $619.83 million, a price-to-earnings ratio of 11.31 and a beta of 1.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.94.

Peapack-Gladstone Financial (NASDAQ:PGCGet Rating) last announced its earnings results on Friday, January 28th. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Peapack-Gladstone Financial had a return on equity of 10.53% and a net margin of 24.37%. The company had revenue of $56.18 million during the quarter, compared to analysts’ expectations of $53.44 million. On average, analysts expect that Peapack-Gladstone Financial will post 3.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 25th. Investors of record on Thursday, February 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, February 9th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 6.83%.

Institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. boosted its stake in shares of Peapack-Gladstone Financial by 1.6% in the 4th quarter. Brown Advisory Inc. now owns 579,420 shares of the financial services provider’s stock valued at $20,511,000 after buying an additional 9,058 shares during the period. IndexIQ Advisors LLC boosted its stake in shares of Peapack-Gladstone Financial by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 14,560 shares of the financial services provider’s stock valued at $486,000 after buying an additional 1,459 shares during the period. Wellington Management Group LLP boosted its stake in shares of Peapack-Gladstone Financial by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 684,764 shares of the financial services provider’s stock valued at $22,843,000 after buying an additional 78,951 shares during the period. Voya Investment Management LLC boosted its stake in shares of Peapack-Gladstone Financial by 1.8% in the 3rd quarter. Voya Investment Management LLC now owns 20,340 shares of the financial services provider’s stock valued at $679,000 after buying an additional 365 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Peapack-Gladstone Financial by 84.6% in the 3rd quarter. Citigroup Inc. now owns 2,315 shares of the financial services provider’s stock valued at $77,000 after buying an additional 1,061 shares during the period. Institutional investors own 72.87% of the company’s stock.

Separately, StockNews.com started coverage on Peapack-Gladstone Financial in a research report on Thursday, March 31st. They set a “buy” rating for the company.

About Peapack-Gladstone Financial (Get Rating)

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.

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