Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,710 shares of the financial services provider’s stock after buying an additional 2,412 shares during the quarter. Empowered Funds LLC owned about 0.28% of Peapack-Gladstone Financial worth $1,335,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Peapack-Gladstone Financial by 45.6% during the second quarter. AQR Capital Management LLC now owns 95,930 shares of the financial services provider’s stock valued at $2,173,000 after acquiring an additional 30,031 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Peapack-Gladstone Financial in the 2nd quarter valued at $1,444,000. Sei Investments Co. purchased a new stake in Peapack-Gladstone Financial during the second quarter worth $214,000. Price T Rowe Associates Inc. MD grew its position in Peapack-Gladstone Financial by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the financial services provider’s stock valued at $278,000 after buying an additional 628 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Peapack-Gladstone Financial by 1.1% in the first quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider’s stock valued at $21,972,000 after buying an additional 9,991 shares in the last quarter. 72.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PGC. Keefe, Bruyette & Woods restated an “outperform” rating and set a $32.00 target price (up from $28.00) on shares of Peapack-Gladstone Financial in a research report on Monday, July 29th. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd.

Peapack-Gladstone Financial Stock Down 2.7 %

Shares of NASDAQ PGC opened at $35.76 on Friday. The stock has a market cap of $628.66 million, a PE ratio of 20.31 and a beta of 0.96. The company has a current ratio of 0.97, a quick 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. The company has a 50-day moving average of $30.67 and a 200 day moving average of $26.54.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $102.14 million for the quarter, compared to analysts’ expectations of $58.24 million. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. As a group, sell-side analysts predict that Peapack-Gladstone Financial Co. will post 1.82 EPS for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be issued a $0.05 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. Peapack-Gladstone Financial’s dividend payout ratio is currently 11.05%.

Insider Buying and Selling

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of Peapack-Gladstone Financial stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $32.29, for a total value of $96,870.00. Following the completion of the transaction, the executive vice president now directly owns 49,155 shares of the company’s stock, valued at $1,587,214.95. The trade was a 5.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.63% of the stock is currently owned by corporate insiders.

Peapack-Gladstone Financial Company 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.