Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Sold by Trexquant Investment LP

Trexquant Investment LP decreased its stake in Peapack-Gladstone Financial Co. (NASDAQ:PGCFree Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,003 shares of the financial services provider’s stock after selling 972 shares during the quarter. Trexquant Investment LP owned approximately 0.07% of Peapack-Gladstone Financial worth $388,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Swiss National Bank lifted its stake in shares of Peapack-Gladstone Financial by 2.6% in the third quarter. Swiss National Bank now owns 35,700 shares of the financial services provider’s stock worth $916,000 after buying an additional 900 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Peapack-Gladstone Financial in the third quarter worth about $25,000. SG Americas Securities LLC lifted its stake in shares of Peapack-Gladstone Financial by 31.5% in the fourth quarter. SG Americas Securities LLC now owns 11,558 shares of the financial services provider’s stock worth $345,000 after buying an additional 2,768 shares in the last quarter. Strs Ohio lifted its stake in shares of Peapack-Gladstone Financial by 15.7% in the fourth quarter. Strs Ohio now owns 21,400 shares of the financial services provider’s stock worth $638,000 after buying an additional 2,900 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Peapack-Gladstone Financial by 14.5% in the fourth quarter. Russell Investments Group Ltd. now owns 46,430 shares of the financial services provider’s stock worth $1,385,000 after buying an additional 5,877 shares in the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PGC shares. Keefe, Bruyette & Woods decreased their price target on shares of Peapack-Gladstone Financial from $30.50 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. TheStreet downgraded shares of Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research note on Friday, February 23rd. Finally, Piper Sandler downgraded shares of Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 24th.

Check Out Our Latest Stock Report on Peapack-Gladstone Financial

Insider Activity

In other news, EVP Stuart M. Vorcheimer sold 4,608 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $24.09, for a total value of $111,006.72. Following the sale, the executive vice president now directly owns 2,205 shares of the company’s stock, valued at approximately $53,118.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.18% of the company’s stock.

Peapack-Gladstone Financial Price Performance

Shares of PGC stock opened at $21.09 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day moving average is $23.22 and its two-hundred day moving average is $25.21. Peapack-Gladstone Financial Co. has a 12 month low of $20.63 and a 12 month high of $31.49. The company has a market capitalization of $374.77 million, a PE ratio of 9.67 and a beta of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGCGet Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Peapack-Gladstone Financial had a return on equity of 7.23% and a net margin of 10.11%. The firm had revenue of $53.08 million for the quarter, compared to analysts’ expectations of $53.69 million. Analysts predict that Peapack-Gladstone Financial Co. will post 2.04 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, May 8th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 9.17%.

About Peapack-Gladstone Financial

(Free Report)

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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Institutional Ownership by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

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