Barclays PLC Has $923,000 Stock Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Barclays PLC increased its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 69.9% in the third quarter, Holdings Channel.com reports. The firm owned 33,656 shares of the financial services provider’s stock after acquiring an additional 13,846 shares during the period. Barclays PLC’s holdings in Peapack-Gladstone Financial were worth $923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in shares of Peapack-Gladstone Financial by 157.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,468 shares during the last quarter. Algert Global LLC acquired a new position in Peapack-Gladstone Financial in the second quarter valued at about $209,000. Janus Henderson Group PLC bought a new position in Peapack-Gladstone Financial during the third quarter worth about $211,000. Sei Investments Co. bought a new position in Peapack-Gladstone Financial during the second quarter worth about $214,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Peapack-Gladstone Financial during the 2nd quarter worth about $223,000. 72.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PGC. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $30.00 to $35.00 in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their target price on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling

In related news, EVP John P. Babcock sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $32.29, for a total transaction of $96,870.00. Following the completion of the transaction, the executive vice president now directly owns 49,155 shares in the company, valued at approximately $1,587,214.95. This trade represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.63% of the stock is currently owned by company insiders.

Peapack-Gladstone Financial Stock Up 4.3 %

Shares of Peapack-Gladstone Financial stock opened at $31.48 on Wednesday. The company has a market capitalization of $553.58 million, a P/E ratio of 17.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50-day moving average of $34.51 and a two-hundred day moving average of $29.79. Peapack-Gladstone Financial Co. has a 1 year low of $20.30 and a 1 year high of $37.88.

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