Albion Financial Group UT Makes New Investment in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Albion Financial Group UT purchased a new stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,082 shares of the financial services provider’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PGC. Point72 Asset Management L.P. boosted its position 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 valued at $66,000 after buying an additional 1,468 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Peapack-Gladstone Financial in the second quarter worth $209,000. Janus Henderson Group PLC purchased a new position in shares of Peapack-Gladstone Financial during the third quarter worth $211,000. Sei Investments Co. acquired a new position in Peapack-Gladstone Financial during the second quarter valued at $214,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Peapack-Gladstone Financial in the second quarter valued at $223,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Peapack-Gladstone Financial Stock Down 0.5 %

PGC stock opened at $31.96 on Thursday. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88. 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 firm’s fifty day moving average is $34.01 and its 200 day moving average is $30.13. The firm has a market cap of $561.86 million, a PE ratio of 17.66 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $102.14 million for the quarter, compared to analysts’ expectations of $58.24 million. Peapack-Gladstone Financial had a return on equity of 5.55% and a net margin of 8.12%. On average, research analysts forecast that Peapack-Gladstone Financial Co. will post 1.81 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John P. Babcock sold 3,000 shares of Peapack-Gladstone Financial stock in a transaction dated 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. 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 available through this link. 7.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PGC shares. Keefe, Bruyette & Woods lifted their price objective on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $35.00 in a research 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.