Barclays PLC Has $923,000 Stock Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Barclays PLC raised its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 69.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 33,656 shares of the financial services provider’s stock after buying an additional 13,846 shares during the period. Barclays PLC’s holdings in Peapack-Gladstone Financial were worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its holdings in Peapack-Gladstone Financial by 157.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,468 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Peapack-Gladstone Financial by 68.4% during the second 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 in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Peapack-Gladstone Financial during the third quarter worth $211,000. Algert Global LLC acquired a new stake in shares of Peapack-Gladstone Financial during the second quarter worth $209,000. Finally, Sei Investments Co. acquired a new stake in shares of Peapack-Gladstone Financial during the second quarter worth $214,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

Insider Buying and Selling

In related news, EVP John P. Babcock sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $32.29, for a total value of $96,870.00. Following the transaction, the executive vice president now owns 49,155 shares in the company, valued at approximately $1,587,214.95. This trade represents a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.63% of the stock is owned by company insiders.

Peapack-Gladstone Financial Stock Down 0.4 %

Shares of NASDAQ PGC opened at $32.00 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. 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 capitalization of $562.72 million, a P/E ratio of 17.68 and a beta of 0.98. The stock’s fifty day moving average is $34.70 and its 200 day moving average is $29.05.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $58.24 million. Sell-side analysts forecast that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGC has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler raised Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $35.00 in a report on Wednesday, October 23rd.

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