Two Sigma Advisers LP Cuts Stake in Peapack-Gladstone Financial Co. (PGC)

Two Sigma Advisers LP reduced its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 19.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,194 shares of the financial services provider’s stock after selling 7,994 shares during the quarter. Two Sigma Advisers LP owned 0.17% of Peapack-Gladstone Financial worth $811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Peapack-Gladstone Financial during the 3rd quarter worth $208,000. Citigroup Inc. lifted its position in shares of Peapack-Gladstone Financial by 57.4% during the 4th quarter. Citigroup Inc. now owns 9,629 shares of the financial services provider’s stock worth $243,000 after buying an additional 3,512 shares during the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Peapack-Gladstone Financial by 5.5% during the 4th quarter. Virginia Retirement Systems ET AL now owns 11,600 shares of the financial services provider’s stock worth $292,000 after buying an additional 600 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Peapack-Gladstone Financial by 51.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 12,623 shares of the financial services provider’s stock worth $390,000 after buying an additional 4,312 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Peapack-Gladstone Financial during the 4th quarter worth $320,000. 72.11% of the stock is currently owned by institutional investors.

Several research firms have commented on PGC. BidaskClub upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Zacks Investment Research upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Gabelli began coverage on Peapack-Gladstone Financial in a research report on Monday, February 11th. They issued a “buy” rating and a $37.00 target price for the company. Finally, FIG Partners downgraded Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.50.

NASDAQ PGC traded down $0.07 during trading hours on Thursday, hitting $28.29. 30,300 shares of the company’s stock were exchanged, compared to its average volume of 63,446. The stock has a market capitalization of $542.35 million, a P/E ratio of 12.25, a P/E/G ratio of 2.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.04 and a quick ratio of 1.04. Peapack-Gladstone Financial Co. has a 1-year low of $23.96 and a 1-year high of $36.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $41.74 million for the quarter, compared to analyst estimates of $41.58 million. Peapack-Gladstone Financial had a return on equity of 9.88% and a net margin of 21.04%. Equities analysts expect that Peapack-Gladstone Financial Co. will post 2.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 8.66%.

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Peapack-Gladstone Financial Profile

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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Institutional Ownership by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

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