Transcend Capital Advisors LLC Cuts Stock Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Transcend Capital Advisors LLC decreased its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 8.8% in the 4th quarter, HoldingsChannel reports. The fund owned 10,329 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Peapack-Gladstone Financial were worth $331,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its position in Peapack-Gladstone Financial by 2.5% in 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 in the last quarter. State Street Corp raised its position in Peapack-Gladstone Financial by 2.4% in 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 in the last quarter. Geode Capital Management LLC raised its position in Peapack-Gladstone Financial by 1.1% in 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 in the last quarter. Synergy Asset Management LLC raised its position in Peapack-Gladstone Financial by 7.9% in 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 8,393 shares during the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Peapack-Gladstone Financial Stock Down 2.7 %

PGC opened at $32.65 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a market cap of $573.99 million, a P/E ratio of 17.65 and a beta of 0.99. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The business’s fifty day simple moving average is $32.63 and its 200 day simple moving average is $31.28.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. As a group, equities research analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Thursday, February 6th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. Peapack-Gladstone Financial’s payout ratio is currently 10.81%.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP Gregory Martin Smith sold 17,633 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $31.95, for a total transaction of $563,374.35. Following the sale, the executive vice president now directly owns 297 shares in the company, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 7.63% of the company’s stock.

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.