11,027 Shares in Peapack-Gladstone Financial Co. (NASDAQ:PGC) Bought by Delta Financial Group Inc.

Delta Financial Group Inc. bought a new stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,027 shares of the financial services provider’s stock, valued at approximately $353,000.

Several other large investors have also added to or reduced their stakes in the business. Albion Financial Group UT acquired a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth approximately $35,000. Point72 Asset Management L.P. boosted its position in Peapack-Gladstone Financial by 157.5% during the third quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,468 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Peapack-Gladstone Financial in the third quarter valued at $211,000. Creative Planning increased its holdings in shares of Peapack-Gladstone Financial by 34.7% in the third quarter. Creative Planning now owns 23,397 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 6,032 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Peapack-Gladstone Financial by 1.6% in the third quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider’s stock valued at $658,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 72.75% of the company’s stock.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ PGC opened at $32.65 on Monday. The firm has a market cap of $573.99 million, a P/E ratio of 17.65 and a beta of 0.99. The business’s 50 day moving average is $32.63 and its 200-day moving average is $31.28. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 1-year low of $20.30 and a 1-year high of $37.88.

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

Peapack-Gladstone Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors 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 yield of 0.61%. The ex-dividend date of this dividend was Thursday, February 6th. Peapack-Gladstone Financial’s dividend payout ratio is 10.81%.

Insiders Place Their Bets

In other Peapack-Gladstone Financial news, EVP Gregory Martin Smith sold 17,633 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $31.95, for a total transaction of $563,374.35. Following the transaction, the executive vice president now owns 297 shares in the company, valued at $9,489.15. This trade represents a 98.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.63% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their target price 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.

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