Russell Investments Group Ltd. Boosts Stock Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Russell Investments Group Ltd. lifted its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,502 shares of the financial services provider’s stock after purchasing an additional 620 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Peapack-Gladstone Financial worth $1,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in Peapack-Gladstone Financial by 1,576.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 939 shares of the financial services provider’s stock worth $32,000 after buying an additional 883 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Peapack-Gladstone Financial in the first quarter worth $35,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Peapack-Gladstone Financial during the third quarter worth $54,000. Tower Research Capital LLC TRC grew its position in Peapack-Gladstone Financial by 355.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,427 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 1,894 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Peapack-Gladstone Financial by 9.9% during the 3rd quarter. Royal Bank of Canada now owns 5,711 shares of the financial services provider’s stock valued at $192,000 after buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, Director Carmen M. Bowser bought 1,000 shares of the firm’s stock in a transaction dated Friday, March 24th. The shares were purchased at an average price of $28.46 per share, for a total transaction of $28,460.00. Following the transaction, the director now directly owns 3,168 shares of the company’s stock, valued at approximately $90,161.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Robert A. Plante bought 1,500 shares of Peapack-Gladstone Financial stock in a transaction on Friday, April 28th. The stock was acquired at an average price of $26.60 per share, with a total value of $39,900.00. Following the completion of the acquisition, the chief operating officer now directly owns 3,932 shares of the company’s stock, valued at $104,591.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carmen M. Bowser purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were purchased at an average price of $28.46 per share, with a total value of $28,460.00. Following the completion of the transaction, the director now directly owns 3,168 shares of the company’s stock, valued at approximately $90,161.28. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 6,780 shares of company stock valued at $192,830. Company insiders own 7.63% of the company’s stock.

Peapack-Gladstone Financial Trading Down 0.3 %

PGC stock opened at $27.24 on Friday. Peapack-Gladstone Financial Co. has a 52-week low of $22.88 and a 52-week high of $42.19. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market cap of $490.78 million, a P/E ratio of 6.33 and a beta of 1.03. The company’s 50-day simple moving average is $27.61 and its 200-day simple moving average is $34.15.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 8th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. Peapack-Gladstone Financial’s dividend payout ratio is currently 4.65%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PGC. Keefe, Bruyette & Woods lowered their target price on Peapack-Gladstone Financial from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. StockNews.com started coverage on shares of Peapack-Gladstone Financial in a research note on Thursday, May 18th. They set a “hold” rating on the stock.

Peapack-Gladstone Financial Profile

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Peapack-Gladstone Financial Corp. is a bank holding company, which engages in the provision of private banking services to businesses, non-profits, and consumers. It operates through the Banking and Peapack Private segments. The Banking segment is involved in the delivery of loan and deposit products to customers.