Schwab Charles Investment Management Inc. boosted its holdings in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) by 21.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,757 shares of the financial services provider’s stock after buying an additional 10,294 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.34% of Peapack-Gladstone Financial Corporation worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in PGC. Russell Investments Group Ltd. grew its stake in Peapack-Gladstone Financial Corporation by 1.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 65,047 shares of the financial services provider’s stock valued at $2,035,000 after purchasing an additional 1,094 shares during the last quarter. Bessemer Group Inc. grew its stake in Peapack-Gladstone Financial Corporation by 36.4% during the 2nd quarter. Bessemer Group Inc. now owns 26,600 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 7,100 shares during the last quarter. Bowling Portfolio Management LLC purchased a new stake in Peapack-Gladstone Financial Corporation during the 2nd quarter valued at about $432,000. Finally, Trexquant Investment LP purchased a new stake in Peapack-Gladstone Financial Corporation during the 2nd quarter valued at about $304,000. 67.94% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on PGC shares. BidaskClub upgraded Peapack-Gladstone Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods started coverage on Peapack-Gladstone Financial Corporation in a research note on Monday, July 17th. They issued an “outperform” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Peapack-Gladstone Financial Corporation currently has a consensus rating of “Buy” and a consensus target price of $32.00.
Shares of Peapack-Gladstone Financial Corporation (PGC) opened at 34.11 on Wednesday. The stock has a market cap of $593.62 million, a P/E ratio of 19.28 and a beta of 1.04. The stock has a 50 day moving average price of $32.95 and a 200-day moving average price of $31.55. Peapack-Gladstone Financial Corporation has a 52 week low of $20.83 and a 52 week high of $35.49.
Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $35.14 million for the quarter. Peapack-Gladstone Financial Corporation had a return on equity of 9.12% and a net margin of 19.54%. Equities analysts predict that Peapack-Gladstone Financial Corporation will post $1.84 EPS for the current fiscal year.
Peapack-Gladstone Financial Corporation Company Profile
Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.
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