34,419 Shares in Peapack-Gladstone Financial Co. (NASDAQ:PGC) Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA purchased a new stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,419 shares of the financial services provider’s stock, valued at approximately $1,103,000.

Other large investors have also recently made changes to their positions in the company. Albion Financial Group UT purchased a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at $35,000. Point72 Asset Management L.P. lifted its stake in Peapack-Gladstone Financial by 157.5% in the third quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,468 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Peapack-Gladstone Financial during the fourth quarter valued at about $112,000. Quantbot Technologies LP grew its stake in shares of Peapack-Gladstone Financial by 507.2% during the fourth quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider’s stock valued at $189,000 after buying an additional 4,930 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of Peapack-Gladstone Financial in the third quarter worth about $211,000. 72.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director F Duffield Meyercord purchased 6,316 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of $28.44 per share, for a total transaction of $179,627.04. Following the completion of the acquisition, the director now directly owns 140,372 shares in the company, valued at approximately $3,992,179.68. The trade was a 4.71 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas L. Kennedy sold 20,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the transaction, the chief executive officer now directly owns 43,703 shares in the company, valued at approximately $1,263,453.73. The trade was a 31.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,633 shares of company stock valued at $1,716,024 in the last quarter. Insiders own 6.95% of the company’s stock.

Peapack-Gladstone Financial Trading Down 1.9 %

Shares of PGC stock opened at $25.03 on Wednesday. The business has a 50-day moving average of $30.72 and a 200 day moving average of $31.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. Peapack-Gladstone Financial Co. has a 1-year low of $20.30 and a 1-year high of $37.88. The stock has a market capitalization of $440.43 million, a PE ratio of 13.53 and a beta of 0.82.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. As a group, sell-side analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

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.