Peapack-Gladstone Financial Co. Common Stock (PGC) Stake Increased by United Services Automobile Association

United Services Automobile Association grew its stake in shares of Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC) by 65.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,819 shares of the financial services provider’s stock after purchasing an additional 25,300 shares during the quarter. United Services Automobile Association’s holdings in Peapack-Gladstone Financial Co. Common Stock were worth $2,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PGC. Alpine Woods Capital Investors LLC purchased a new stake in Peapack-Gladstone Financial Co. Common Stock in the first quarter worth about $284,000. Engineers Gate Manager LP purchased a new stake in Peapack-Gladstone Financial Co. Common Stock in the second quarter worth about $293,000. Citigroup Inc. lifted its stake in Peapack-Gladstone Financial Co. Common Stock by 32.8% in the first quarter. Citigroup Inc. now owns 10,367 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 2,558 shares during the period. Citadel Advisors LLC purchased a new stake in Peapack-Gladstone Financial Co. Common Stock in the first quarter worth about $355,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in Peapack-Gladstone Financial Co. Common Stock in the second quarter worth about $356,000. 72.06% of the stock is owned by hedge funds and other institutional investors.

Shares of Peapack-Gladstone Financial Co. Common Stock stock opened at $33.88 on Friday. The stock has a market capitalization of $648.85 million, a price-to-earnings ratio of 17.46 and a beta of 0.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. Peapack-Gladstone Financial Co. Common Stock has a one year low of $29.24 and a one year high of $38.00.

Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC) last announced its earnings results on Friday, July 27th. The financial services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $40.98 million during the quarter, compared to the consensus estimate of $40.89 million. Peapack-Gladstone Financial Co. Common Stock had a net margin of 22.54% and a return on equity of 10.15%. sell-side analysts anticipate that Peapack-Gladstone Financial Co. Common Stock will post 2.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Stockholders of record on Thursday, August 9th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. Peapack-Gladstone Financial Co. Common Stock’s dividend payout ratio (DPR) is currently 10.31%.

A number of equities analysts have commented on PGC shares. BidaskClub upgraded shares of Peapack-Gladstone Financial Co. Common Stock from a “sell” rating to a “hold” rating in a report on Saturday, May 26th. FIG Partners reiterated an “outperform” rating on shares of Peapack-Gladstone Financial Co. Common Stock in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $38.75.

Peapack-Gladstone Financial Co. Common Stock 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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

Further Reading: Moving Average (MA)

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Institutional Ownership by Quarter for Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC)

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