Several hedge funds have changed their holdings in Peapack-Gladstone Financial (PGC). Zurcher Kantonalbank increased its ownership by 68.4%, now holding 3,324 shares worth $75,000 after buying 1,350 additional shares. Denali Advisors LLC invested around $204,000 in PGC during the first quarter. BNP Paribas Financial Markets raised its stake by 90.4%, now owning 8,399 shares valued at $204,000 after adding 3,987 shares. Price T Rowe Associates increased its position by 5.8%, owning 11,423 shares worth $278,000. Quest Partners raised its stake by 150.0%, owning 15,745 shares valued at $357,000 after acquiring 9,446 additional shares. Institutional investors and hedge funds hold 72.75% of PGC’s stock.
Insider Activity
In other news, EVP John P. Babcock sold 10,000 shares on September 5th for $268,900, bringing his total shares to 52,155, worth about $1.4 million. This trade did not change his position percentage. Details can be found in the disclosures filed with the SEC. Insiders own 7.63% of the stock.
PGC Stock Performance
PGC stock opened at $28.63. The 52-week range is $20.30 to $30.68. Key ratios include a quick ratio of 0.98, a debt-to-equity ratio of 0.23, with a current market cap of $506.18 million and a P/E ratio of 15.16. For the last quarter, earnings per share (EPS) was $0.42, matching estimates, and revenue was $100.79 million, well above the $56.80 million forecast. The estimated EPS for the year is 1.75.
Analyst Recommendations
Keefe, Bruyette & Woods has an “outperform” rating for PGC, raising 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 services. It operates in two segments, Banking and Peapack Private, offering various accounts and banking products.
Featured Articles
- Five stocks we like better than Peapack-Gladstone Financial
- With Risk Tolerance, One Size Does Not Fit All
- 3 Micro-Caps Set for Major Moves: Balancing Risk and Opportunity
- How to Evaluate a Stock Before Buying
- Autodesk Named a “Top Pick” by Morgan Stanley—Is It Time to Buy?
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- 4 Quirky ETFs With Big Potential for Impressive Gains
Want to see what other hedge funds are holding PGC? Visit HoldingsChannel.com for the latest 13F filings and insider trades of Peapack-Gladstone Financial Co. (NASDAQ:PGC).
Receive News & Ratings for Peapack-Gladstone Financial Daily – Enter your email below for a daily summary of news and ratings for Peapack-Gladstone Financial with MarketBeat.com’s FREE daily email newsletter.
`
