BNP Paribas Financial Markets Grows Stock Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

BNP Paribas Financial Markets grew its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 487.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,955 shares of the financial services provider’s stock after acquiring an additional 34,819 shares during the quarter. BNP Paribas Financial Markets owned about 0.24% of Peapack-Gladstone Financial worth $1,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PGC. Synergy Asset Management LLC lifted its position in Peapack-Gladstone Financial by 7.9% during the fourth quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock worth $11,199,000 after buying an additional 25,687 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Peapack-Gladstone Financial by 37.5% during the fourth quarter. JPMorgan Chase & Co. now owns 202,865 shares of the financial services provider’s stock worth $6,502,000 after buying an additional 55,363 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Peapack-Gladstone Financial during the fourth quarter worth approximately $532,000. Assenagon Asset Management S.A. purchased a new position in Peapack-Gladstone Financial during the fourth quarter worth approximately $3,590,000. Finally, Empowered Funds LLC raised its position in Peapack-Gladstone Financial by 4.9% in the fourth quarter. Empowered Funds LLC now owns 51,121 shares of the financial services provider’s stock valued at $1,638,000 after purchasing an additional 2,411 shares during the period. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Raymond James assumed coverage on Peapack-Gladstone Financial in a research report on Friday, April 11th. They issued a “strong-buy” rating and a $39.00 target price on the stock. Keefe, Bruyette & Woods dropped their price objective on Peapack-Gladstone Financial from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, Director F Duffield Meyercord bought 6,316 shares of the firm’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 completion of the purchase, the director now directly owns 140,372 shares in the company, valued at $3,992,179.68. This trade represents a 4.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John P. Babcock sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $28.76, for a total value of $287,600.00. Following the sale, the executive vice president now owns 39,155 shares of the company’s stock, valued at approximately $1,126,097.80. The trade was a 20.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $1,152,650 in the last quarter. Corporate insiders own 7.63% of the company’s stock.

Peapack-Gladstone Financial Trading Down 0.4%

Shares of NASDAQ PGC opened at $28.80 on Tuesday. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $27.71 and a 200-day simple moving average of $31.49. The stock has a market capitalization of $510.80 million, a PE ratio of 15.57 and a beta of 0.87.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.08). Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. The firm had revenue of $64.36 million during the quarter, compared to analyst estimates of $64.07 million. On average, equities analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 8th. Peapack-Gladstone Financial’s dividend payout ratio is currently 11.11%.

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.