Several hedge funds have adjusted their ownership of Peapack-Gladstone Financial (PGC). Zurcher Kantonalbank increased its holdings by 68.4%, owning 3,324 shares worth $75,000. Denali Advisors LLC invested approximately $204,000 in PGC. BNP Paribas lifted its position by 90.4%, owning 8,399 shares also valued at $204,000. Price T Rowe Associates increased its stake by 5.8%, holding 11,423 shares worth $278,000. Lastly, Quest Partners raised its holdings by 150.0%, now owning 15,745 shares valued at $357,000. Overall, 72.75% of the stock is owned by institutional investors and hedge funds.
Insider Activity
On September 5th, EVP John P. Babcock sold 10,000 shares at an average price of $26.89, totaling $268,900. He now holds 52,155 shares worth about $1.4 million. Insiders own 7.63% of the stock.
Stock Performance
PGC stock opened at $28.63. Its 52-week range is $20.30 to $30.68. Key financial metrics include a quick ratio of 0.98, a market cap of $506.18 million, and a P/E ratio of 15.16. The company reported $0.42 EPS last quarter, meeting analysts’ expectations, and had revenue of $100.79 million. Analysts project an EPS of 1.75 for the current year.
Analyst Ratings
Keefe, Bruyette & Woods raised their rating to “outperform” with a target price of $32.00, up from $28.00.
About Peapack-Gladstone Financial
Peapack-Gladstone Financial Corporation is the holding company for Peapack-Gladstone Bank, providing private banking and wealth management services in the U.S. It offers various banking products and services.
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