Janus Henderson Group PLC Makes New $211,000 Investment in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Peapack-Gladstone Financial by 68.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider’s stock worth $75,000 after buying an additional 1,350 shares during the last quarter. Algert Global LLC purchased a new position in shares of Peapack-Gladstone Financial during the second quarter valued at approximately $209,000. Sei Investments Co. bought a new position in Peapack-Gladstone Financial during the second quarter valued at approximately $214,000. Cubist Systematic Strategies LLC purchased a new stake in Peapack-Gladstone Financial in the second quarter worth approximately $223,000. Finally, SG Americas Securities LLC grew its position in Peapack-Gladstone Financial by 48.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,158 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 3,312 shares during the period. Institutional investors own 72.75% of the company’s stock.

Insider Buying and Selling

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $32.29, for a total value of $96,870.00. Following the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PGC. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $30.00 to $35.00 in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Peapack-Gladstone Financial Price Performance

Shares of Peapack-Gladstone Financial stock opened at $35.37 on Monday. The stock has a market cap of $621.80 million, a P/E ratio of 19.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s fifty day moving average is $33.75 and its 200 day moving average is $28.08. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced 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. Peapack-Gladstone Financial had a return on equity of 5.55% and a net margin of 8.12%. The company had revenue of $102.14 million during the quarter, compared to the consensus estimate of $58.24 million. Sell-side analysts anticipate that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Thursday, November 7th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 11.05%.

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.