Peapack Gladstone Financial Corp Increases Holdings in PayPal Holdings, Inc. $PYPL

Peapack Gladstone Financial Corp lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 269,256 shares of the credit services provider’s stock after buying an additional 11,392 shares during the period. Peapack Gladstone Financial Corp’s holdings in PayPal were worth $15,719,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PYPL. Norges Bank purchased a new stake in shares of PayPal during the 4th quarter worth approximately $949,758,000. Vanguard Group Inc. boosted its stake in shares of PayPal by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock worth $5,276,205,000 after acquiring an additional 5,534,462 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PayPal by 35.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,177,536 shares of the credit services provider’s stock worth $548,520,000 after acquiring an additional 2,160,227 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of PayPal during the 3rd quarter worth approximately $97,794,000. Finally, Invesco Ltd. boosted its stake in shares of PayPal by 10.9% during the 3rd quarter. Invesco Ltd. now owns 11,131,949 shares of the credit services provider’s stock worth $746,508,000 after acquiring an additional 1,093,365 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PYPL shares. Robert W. Baird set a $52.00 price target on PayPal in a research note on Wednesday, February 4th. Rothschild & Co Redburn reduced their target price on PayPal from $50.00 to $32.00 and set a “sell” rating on the stock in a research note on Wednesday, February 11th. JPMorgan Chase & Co. reduced their target price on PayPal from $70.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Susquehanna reduced their target price on PayPal from $90.00 to $63.00 and set a “positive” rating on the stock in a research note on Wednesday, February 4th. Finally, Dbs Bank raised PayPal to a “hold” rating in a research note on Friday, February 6th. Eight analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.85.

PayPal Trading Up 1.0%

Shares of PayPal stock opened at $45.19 on Tuesday. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.50. The firm has a market cap of $39.86 billion, a PE ratio of 8.48, a P/E/G ratio of 1.12 and a beta of 1.39. The business’s fifty day moving average is $46.34 and its two-hundred day moving average is $51.12. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. PayPal had a return on equity of 25.02% and a net margin of 15.00%.The company had revenue of $8.35 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the company posted $1.33 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts anticipate that PayPal Holdings, Inc. will post 5.3 earnings per share for the current year.

PayPal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, June 4th. PayPal’s dividend payout ratio is currently 10.51%.

Insiders Place Their Bets

In other PayPal news, CAO Chris Natali sold 1,337 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $49.46, for a total transaction of $66,128.02. Following the transaction, the chief accounting officer owned 1,586 shares of the company’s stock, valued at $78,443.56. This represents a 45.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 10,732 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $49.96, for a total value of $536,170.72. Following the transaction, the insider directly owned 41,567 shares in the company, valued at approximately $2,076,687.32. This represents a 20.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.