Several hedge funds have changed their investments in Peapack-Gladstone Financial (PGC). Zurcher Kantonalbank increased its stake by 68.4%, now holding 3,324 shares worth $75,000. Denali Advisors bought new shares worth around $204,000, while BNP Paribas added 90.4% to their holdings, totaling 8,399 shares valued at $204,000. Price T Rowe Associates slightly increased their stake as well. Overall, 72.75% of PGC’s stock is held by institutional investors.
Insider Trading
Recently, EVP John P. Babcock sold 10,000 shares at $26.89 each, totaling $268,900. After the sale, he owns 52,155 shares valued at about $1.4 million. Insiders hold 7.63% of the stock.
Stock Performance
PGC stock opened at $28.63. It has a 52-week range of $20.30 to $30.68, with a market cap of $506.18 million. The company posted earnings of $0.42 per share last quarter, meeting analyst expectations.
Analyst Insights
Keefe, Bruyette & Woods has an “outperform” rating on PGC, with a price target raised to $32.00 from $28.00.
About Peapack-Gladstone Financial
Peapack-Gladstone Financial Corporation provides private banking and wealth management services through Peapack-Gladstone Bank in the U.S. It offers various banking products including checking and savings accounts.
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