Point72 Asset Management L.P. Has $66,000 Stock Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Point72 Asset Management L.P. grew its position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 157.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,400 shares of the financial services provider’s stock after buying an additional 1,468 shares during the period. Point72 Asset Management L.P.’s holdings in Peapack-Gladstone Financial were worth $66,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGC. Price T Rowe Associates Inc. MD raised its stake in Peapack-Gladstone Financial by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 628 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Peapack-Gladstone Financial by 68.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,350 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Peapack-Gladstone Financial in the second quarter valued at approximately $1,444,000. Quest Partners LLC boosted its stake in shares of Peapack-Gladstone Financial by 150.0% in the second quarter. Quest Partners LLC now owns 15,745 shares of the financial services provider’s stock valued at $357,000 after buying an additional 9,446 shares during the period. Finally, American Century Companies Inc. grew its position in Peapack-Gladstone Financial by 15.3% during the second quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider’s stock worth $6,242,000 after buying an additional 36,564 shares in the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of the company’s 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 owns 49,155 shares of the company’s stock, valued at $1,587,214.95. This represents a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.63% of the stock is owned by insiders.

Peapack-Gladstone Financial Stock Down 0.6 %

NASDAQ PGC opened at $35.37 on Friday. The business has a fifty day moving average price of $33.59 and a two-hundred day moving average price of $27.94. The stock has a market capitalization of $621.98 million, a PE ratio of 19.62 and a beta of 0.98. 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 debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $58.24 million. Equities analysts expect that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, November 7th. Peapack-Gladstone Financial’s dividend payout ratio is 11.05%.

Analyst Ratings Changes

Several brokerages have weighed in on PGC. Piper Sandler raised Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $35.00 in a report on Wednesday, October 23rd. 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.

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.