Creative Planning Grows Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Creative Planning increased its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 49.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,365 shares of the financial services provider’s stock after purchasing an additional 5,769 shares during the period. Creative Planning owned approximately 0.10% of Peapack-Gladstone Financial worth $393,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Peapack-Gladstone Financial by 4.5% in the 4th quarter. Wellington Management Group LLP now owns 564,178 shares of the financial services provider’s stock worth $16,824,000 after acquiring an additional 24,083 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Peapack-Gladstone Financial during the first quarter worth $204,000. BNP Paribas Financial Markets raised its holdings in shares of Peapack-Gladstone Financial by 90.4% in the first quarter. BNP Paribas Financial Markets now owns 8,399 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 3,987 shares in the last quarter. Empowered Funds LLC raised its holdings in Peapack-Gladstone Financial by 8.0% in the first quarter. Empowered Funds LLC now owns 51,786 shares of the financial services provider’s stock worth $1,260,000 after purchasing an additional 3,850 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Peapack-Gladstone Financial by 1.1% in the first quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider’s stock worth $21,972,000 after purchasing an additional 9,991 shares in the last quarter. Institutional investors own 72.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $32.00 target price (up previously from $28.00) on shares of Peapack-Gladstone Financial in a research report on Monday, July 29th.

Peapack-Gladstone Financial Trading Up 1.3 %

Shares of PGC stock opened at $30.23 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $537.07 million, a price-to-earnings ratio of 13.87 and a beta of 0.99. The stock has a 50 day simple moving average of $27.13 and a 200-day simple moving average of $24.73. Peapack-Gladstone Financial Co. has a 1-year low of $20.30 and a 1-year high of $30.77.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.50%. The firm had revenue of $100.79 million during the quarter, compared to the consensus estimate of $56.80 million. On average, equities research analysts expect that Peapack-Gladstone Financial Co. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John P. Babcock sold 10,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the completion of the transaction, the executive vice president now directly owns 52,155 shares in the company, valued at approximately $1,402,447.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.