Quantbot Technologies LP Boosts Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Quantbot Technologies LP grew its position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 507.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,902 shares of the financial services provider’s stock after purchasing an additional 4,930 shares during the period. Quantbot Technologies LP’s holdings in Peapack-Gladstone Financial were worth $189,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PGC. Boston Partners lifted its holdings in shares of 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 acquiring an additional 17,220 shares during the last quarter. Wellington Management Group LLP raised its position in Peapack-Gladstone Financial by 2.5% during the third quarter. Wellington Management Group LLP now owns 631,645 shares of the financial services provider’s stock valued at $17,313,000 after purchasing an additional 15,667 shares in the last quarter. State Street Corp lifted its stake in Peapack-Gladstone Financial by 2.4% during the third quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after purchasing an additional 12,332 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Peapack-Gladstone Financial by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 378,780 shares of the financial services provider’s stock worth $10,385,000 after purchasing an additional 4,172 shares in the last quarter. Finally, Synergy Asset Management LLC increased its position 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. Institutional investors own 72.75% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling

In other Peapack-Gladstone Financial news, EVP Gregory Martin Smith sold 17,633 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $31.95, for a total value of $563,374.35. Following the completion of the sale, the executive vice president now owns 297 shares in the company, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John P. Babcock sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total value of $287,600.00. Following the transaction, the executive vice president now directly owns 39,155 shares in the company, valued at $1,126,097.80. This trade represents a 20.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,633 shares of company stock valued at $1,573,124 over the last three months. 7.63% of the stock is owned by company insiders.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC opened at $28.46 on Monday. The firm has a market cap of $500.78 million, a price-to-earnings ratio of 15.38 and a beta of 1.00. The company has a 50-day simple moving average of $31.61 and a two-hundred day simple moving average of $31.90. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 12-month low of $20.30 and a 12-month high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. On average, equities analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Profile

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.