Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 158,710 shares of the financial services provider’s stock after acquiring an additional 7,100 shares during the period. Prudential Financial Inc. owned about 0.90% of Peapack-Gladstone Financial worth $5,087,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PGC. Synergy Asset Management LLC raised its holdings in Peapack-Gladstone Financial by 7.9% in the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock worth $11,199,000 after purchasing an additional 25,687 shares during the period. JPMorgan Chase & Co. increased its position in shares of Peapack-Gladstone Financial by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock valued at $4,043,000 after buying an additional 8,393 shares in the last quarter. State Street Corp raised its stake in shares of Peapack-Gladstone Financial by 2.4% during the 3rd quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after buying an additional 12,332 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Peapack-Gladstone Financial during the 4th quarter valued at approximately $3,590,000. Finally, Proficio Capital Partners LLC acquired a new stake in Peapack-Gladstone Financial in the 4th quarter valued at $532,000. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Trading Down 0.2 %

PGC stock opened at $28.40 on Tuesday. Peapack-Gladstone Financial Co. has a 12-month low of $20.30 and a 12-month high of $37.88. The business’s 50-day moving average is $31.54 and its 200 day moving average is $31.92. 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 market cap of $499.73 million, a price-to-earnings ratio of 15.35 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on shares of 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 Transactions at Peapack-Gladstone Financial

In related news, CEO Douglas L. Kennedy sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 35,409 shares of the company’s stock, valued at approximately $1,011,989.22. This represents a 12.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John P. Babcock sold 10,000 shares of the firm’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 transaction of $287,600.00. Following the completion of 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 sold 57,633 shares of company stock valued at $1,716,024 over the last 90 days. 7.63% of the stock is currently owned by corporate insiders.

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.