Transcend Capital Advisors LLC Cuts Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Transcend Capital Advisors LLC decreased its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,329 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Transcend Capital Advisors LLC owned 0.06% of Peapack-Gladstone Financial worth $331,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Empowered Funds LLC increased its position in shares of Peapack-Gladstone Financial by 4.9% during the fourth quarter. Empowered Funds LLC now owns 51,121 shares of the financial services provider’s stock worth $1,638,000 after acquiring an additional 2,411 shares during the period. Synergy Asset Management LLC increased its position in shares of Peapack-Gladstone Financial by 7.9% during the fourth quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock worth $11,199,000 after acquiring an additional 25,687 shares during the period. Albion Financial Group UT purchased a new stake in shares of Peapack-Gladstone Financial during the fourth quarter worth $35,000. Assenagon Asset Management S.A. acquired a new position in shares of Peapack-Gladstone Financial during the fourth quarter worth $3,590,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Peapack-Gladstone Financial by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock worth $4,043,000 after purchasing an additional 8,393 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Insider Transactions at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP Gregory Martin Smith sold 17,633 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $31.95, for a total value of $563,374.35. Following the completion of the sale, the executive vice president now owns 297 shares in the company, valued at approximately $9,489.15. The trade was a 98.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.63% of the company’s stock.

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock opened at $32.65 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $32.63 and a 200 day moving average price of $31.28. The company has a market cap of $573.99 million, a P/E ratio of 17.65 and a beta of 0.99. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. Sell-side analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Thursday, February 6th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Thursday, February 6th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 10.81%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

About Peapack-Gladstone Financial

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.