Recently, several large investors have adjusted their stakes in Peapack-Gladstone Financial. Zurcher Kantonalbank increased its shareholding by 68.4%, acquiring 1,350 new shares to own a total of 3,324 shares valued at $75,000. Denali Advisors LLC bought a new stake worth $204,000 in the first quarter. BNP Paribas Financial Markets boosted its holdings by 90.4%, owning 8,399 shares valued at $204,000 after purchasing 3,987 shares. Price T Rowe Associates increased its stake by 5.8%, owning 11,423 shares now worth $278,000. Lastly, Quest Partners LLC raised its holdings by 150.0%, now owning 15,745 shares valued at $357,000. Overall, hedge funds and institutional investors own 72.75% of the company.
Insider Activity
John P. Babcock, EVP of Peapack-Gladstone Financial, sold 10,000 shares on September 5th for $268,900. He now owns 52,155 shares valued at around $1.4 million. This sale didn’t significantly change his ownership percentage. Insider ownership is at 7.63%.
Stock Performance
Peapack-Gladstone Financial shares opened at $28.63. The company has a debt-to-equity ratio of 0.23 and a market cap of $506.18 million. Its 1-year stock range is $20.30 to $30.68, with a PE ratio of 15.16. Recently, the company reported $0.42 earnings per share, meeting analysts’ expectations.
Analyst Ratings
Keefe, Bruyette & Woods upgraded the stock rating to “outperform” and set a target price of $32.00.
About Peapack-Gladstone Financial
Peapack-Gladstone Financial Corporation is a bank holding company offering private banking and wealth management services in the U.S. It provides various financial services including checking and savings accounts.
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