Vanguard Group Inc. Has $30.04 Million Stock Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Vanguard Group Inc. boosted its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 937,205 shares of the financial services provider’s stock after purchasing an additional 62,803 shares during the period. Vanguard Group Inc. owned about 5.33% of Peapack-Gladstone Financial worth $30,037,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PGC. Assenagon Asset Management S.A. bought a new stake in shares of Peapack-Gladstone Financial during the 4th quarter worth $3,590,000. American Century Companies Inc. boosted its stake in shares of Peapack-Gladstone Financial by 11.6% in the 4th quarter. American Century Companies Inc. now owns 339,148 shares of the financial services provider’s stock valued at $10,870,000 after purchasing an additional 35,159 shares in the last quarter. Synergy Asset Management LLC grew its holdings 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 purchasing an additional 25,687 shares during the last quarter. Boston Partners increased its position in Peapack-Gladstone Financial by 2.3% during the 4th quarter. Boston Partners now owns 781,826 shares of the financial services provider’s stock worth $25,046,000 after purchasing an additional 17,220 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Peapack-Gladstone Financial in the 4th quarter valued at approximately $532,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction on Friday, March 28th. The shares were sold at an average price of $28.58, for a total transaction of $142,900.00. Following the completion of the transaction, the chief executive officer now owns 35,409 shares of the company’s stock, valued at $1,011,989.22. This trade represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F Duffield Meyercord bought 6,316 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average price of $28.44 per share, for a total transaction of $179,627.04. Following the acquisition, the director now owns 140,372 shares of the company’s stock, valued at $3,992,179.68. This trade represents a 4.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 57,633 shares of company stock valued at $1,716,024. 7.63% of the stock is currently owned by company insiders.

Peapack-Gladstone Financial Stock Performance

Peapack-Gladstone Financial stock opened at $25.38 on Tuesday. The business has a 50 day moving average of $30.06 and a 200-day moving average of $31.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. Peapack-Gladstone Financial Co. has a 1 year low of $20.30 and a 1 year high of $37.88. The company has a market capitalization of $446.59 million, a P/E ratio of 13.72 and a beta of 0.82.

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 (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. On average, equities research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James began coverage on Peapack-Gladstone Financial in a research note on Friday. They issued a “strong-buy” rating and a $39.00 price target for the company.

About Peapack-Gladstone Financial

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.