7,719 Shares in Peapack-Gladstone Financial Co. (NASDAQ:PGC) Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC acquired a new stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,719 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other institutional investors have also modified their holdings of PGC. American Century Companies Inc. lifted its holdings in shares of Peapack-Gladstone Financial by 15.3% in the 2nd quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider’s stock worth $6,242,000 after acquiring an additional 36,564 shares during the last quarter. Salzhauer Michael lifted its stake in Peapack-Gladstone Financial by 5.1% in the second quarter. Salzhauer Michael now owns 152,339 shares of the financial services provider’s stock worth $3,450,000 after purchasing an additional 7,429 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Peapack-Gladstone Financial by 45.6% during the second quarter. AQR Capital Management LLC now owns 95,930 shares of the financial services provider’s stock valued at $2,173,000 after buying an additional 30,031 shares during the period. Acadian Asset Management LLC bought a new position in shares of Peapack-Gladstone Financial during the second quarter valued at approximately $1,444,000. Finally, Empowered Funds LLC raised its holdings in shares of Peapack-Gladstone Financial by 5.2% in the third quarter. Empowered Funds LLC now owns 48,710 shares of the financial services provider’s stock worth $1,335,000 after buying an additional 2,412 shares during the period. 72.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler raised Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Insider Activity

In related news, EVP John P. Babcock sold 3,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $32.29, for a total transaction of $96,870.00. Following the transaction, the executive vice president now directly owns 49,155 shares in the company, valued at $1,587,214.95. The trade was a 5.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.63% of the company’s stock.

Peapack-Gladstone Financial Trading Down 0.6 %

Shares of NASDAQ PGC opened at $35.37 on Monday. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $33.75 and a two-hundred day simple moving average of $28.08. The firm has a market cap of $621.80 million, a PE ratio of 19.54 and a beta of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $102.14 million for the quarter, compared to the consensus estimate of $58.24 million. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. Analysts expect that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, November 7th. Peapack-Gladstone Financial’s payout ratio is 11.05%.

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