Recent Hedge Fund Activity
Several hedge funds have adjusted their investments in Peapack-Gladstone Financial (PGC). Notable changes include:
- Zurcher Kantonalbank increased its holdings by 68.4%, owning 3,324 shares valued at $75,000.
- Denali Advisors purchased shares worth about $204,000.
- BNP Paribas increased its stake by 90.4%, now holding 8,399 shares valued at $204,000.
- Price T Rowe Associates raised its holdings by 5.8%, owning 11,423 shares valued at $278,000.
- Quest Partners raised its position by 150.0%, owning 15,745 shares valued at $357,000.
Overall, 72.75% of the shares are held by institutional investors and hedge funds.
Insider Transactions
Executive VP John P. Babcock sold 10,000 shares on September 5th for $268,900. He still owns 52,155 shares worth approximately $1.4 million, reflecting a 0.00% change in his position. Insiders own 7.63% of the stock.
Stock Performance
PGC shares opened at $28.63. It has a 52-week range of $20.30 to $30.68, with a market cap of $506.18 million and a price-to-earnings ratio of 15.16. The latest earnings report showed $0.42 earnings per share, matching analyst estimates, with revenues of $100.79 million.
Analyst Updates
Keefe, Bruyette & Woods maintained an “outperform” rating for PGC and raised the price target to $32.00 from $28.00.
About Peapack-Gladstone Financial
Peapack-Gladstone Financial Corporation is a bank holding company providing private banking and wealth management in the U.S.
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Want to see more hedge fund activity regarding PGC? Visit HoldingsChannel.com for updated filings and trades related to Peapack-Gladstone Financial.
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