Recently, several major investors increased their stakes in Peapack-Gladstone Financial. Zurcher Kantonalbank raised its holdings by 68.4%, now owning 3,324 shares worth $75,000. Denali Advisors bought a new position worth $204,000 during the first quarter, while BNP Paribas increased its stake by 90.4% to own 8,399 shares, valued at $204,000. Price T Rowe Associates raised its stake by 5.8%, owning 11,423 shares valued at $278,000. Quest Partners increased its holdings by 150% to 15,745 shares, valued at $357,000. Institutional investors now own 72.75% of the company.
Insider Activity
EVP John P. Babcock sold 10,000 shares at $26.89 each on September 5, totaling $268,900. He now owns 52,155 shares valued at approximately $1.4 million. Insiders hold 7.63% of the company’s stock.
Stock Performance
Peapack-Gladstone Financial shares opened at $28.63 on Friday. The company has a market cap of $506.18 million and reported earnings of $0.42 per share in the last quarter. Analysts predict revenue for the current fiscal year to be 1.75 EPS.
Analyst Ratings
Keefe, Bruyette & Woods has an “outperform” rating on Peapack-Gladstone with a target price raised to $32.00.
About the Company
Peapack-Gladstone Financial operates Peapack-Gladstone Bank, which offers private banking and wealth management services in the U.S.
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