Gamco Investors INC. ET AL Grows Stock Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Gamco Investors INC. ET AL boosted its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 57,485 shares of the financial services provider’s stock after buying an additional 750 shares during the period. Gamco Investors INC. ET AL’s holdings in Peapack-Gladstone Financial were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Synergy Asset Management LLC boosted its position in shares of Peapack-Gladstone Financial by 7.9% during the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock worth $11,199,000 after purchasing an additional 25,687 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 buying an additional 8,393 shares in the last quarter. State Street Corp grew its position in Peapack-Gladstone Financial by 2.4% during the third quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after buying an additional 12,332 shares during the period. Proficio Capital Partners LLC purchased a new position in Peapack-Gladstone Financial in the fourth quarter valued at about $532,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Peapack-Gladstone Financial during the 4th quarter valued at approximately $3,590,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James initiated coverage on Peapack-Gladstone Financial in a report on Friday, April 11th. They issued a “strong-buy” rating and a $39.00 price target on the stock.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ PGC opened at $26.09 on Friday. 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 company’s 50-day moving average price is $29.38 and its 200 day moving average price is $31.69. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The stock has a market cap of $459.08 million, a price-to-earnings ratio of 14.10 and a beta of 0.82.

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

Insiders Place Their Bets

In related news, CEO Douglas L. Kennedy sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the sale, the chief executive officer now owns 43,703 shares in the company, valued at approximately $1,263,453.73. This trade represents a 31.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director F Duffield Meyercord purchased 6,316 shares of the business’s stock in a transaction on Monday, March 31st. The stock was acquired at an average price of $28.44 per share, with a total value of $179,627.04. Following the completion of the acquisition, the director now directly owns 140,372 shares in the company, valued at $3,992,179.68. The trade was a 4.71 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 57,633 shares of company stock valued at $1,716,024. Corporate insiders own 7.63% of the company’s stock.

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.