Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC increased its position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 172.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,990 shares of the financial services provider’s stock after acquiring an additional 10,119 shares during the quarter. AlphaQuest LLC owned approximately 0.09% of Peapack-Gladstone Financial worth $512,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted 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 worth $17,313,000 after acquiring an additional 15,667 shares during the last quarter. State Street Corp boosted its position 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 acquiring an additional 12,332 shares during the last quarter. Geode Capital Management LLC boosted its position in Peapack-Gladstone Financial by 1.1% during the third quarter. Geode Capital Management LLC now owns 378,780 shares of the financial services provider’s stock worth $10,385,000 after acquiring an additional 4,172 shares during the last quarter. Synergy Asset Management LLC boosted 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 acquiring an additional 25,687 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Peapack-Gladstone Financial by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock worth $4,043,000 after acquiring an additional 8,393 shares during the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

Insider Activity

In other news, EVP Gregory Martin Smith sold 17,633 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $31.95, for a total value of $563,374.35. Following the transaction, the executive vice president now owns 297 shares of the company’s stock, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.63% of the company’s stock.

Peapack-Gladstone Financial Stock Up 1.0 %

Shares of PGC opened at $28.65 on Thursday. The firm has a market cap of $503.81 million, a PE ratio of 15.49 and a beta of 1.00. The company’s fifty day moving average is $32.09 and its two-hundred day moving average is $31.71. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. 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 (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. Analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Thursday, February 6th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, February 6th. Peapack-Gladstone Financial’s dividend payout ratio is presently 10.81%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their target price 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.

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.