Greenwich Wealth Management LLC Invests $418,000 in Peapack-Gladstone Financial Corporation $PGC

Greenwich Wealth Management LLC acquired a new stake in Peapack-Gladstone Financial Corporation (NASDAQ:PGC) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 15,000 shares of the financial services provider’s stock, valued at approximately $418,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Peapack-Gladstone Financial by 40.4% during the first quarter. Royal Bank of Canada now owns 10,675 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 3,070 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Peapack-Gladstone Financial by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 390 shares in the last quarter. Empowered Funds LLC raised its position in shares of Peapack-Gladstone Financial by 8.5% during the 1st quarter. Empowered Funds LLC now owns 55,450 shares of the financial services provider’s stock valued at $1,575,000 after acquiring an additional 4,329 shares in the last quarter. Jane Street Group LLC lifted its stake in Peapack-Gladstone Financial by 119.7% during the first quarter. Jane Street Group LLC now owns 52,173 shares of the financial services provider’s stock worth $1,482,000 after purchasing an additional 28,428 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Peapack-Gladstone Financial by 13.9% during the second quarter. Legal & General Group Plc now owns 15,898 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 1,945 shares during the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on PGC shares. Piper Sandler boosted their target price on shares of Peapack-Gladstone Financial from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Peapack-Gladstone Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Peapack-Gladstone Financial Trading Down 3.1%

NASDAQ PGC opened at $42.14 on Thursday. The company has a 50-day moving average price of $40.09 and a two-hundred day moving average price of $33.91. Peapack-Gladstone Financial Corporation has a 52 week low of $24.42 and a 52 week high of $44.30. The stock has a market cap of $746.72 million, a price-to-earnings ratio of 16.99 and a beta of 0.72.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.14. Peapack-Gladstone Financial had a return on equity of 6.75% and a net margin of 9.60%.The business had revenue of $82.49 million during the quarter, compared to the consensus estimate of $79.17 million. As a group, equities research analysts expect that Peapack-Gladstone Financial Corporation will post 3.69 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, May 7th. Peapack-Gladstone Financial’s payout ratio is 8.06%.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.