Peapack-Gladstone Financial Co. (PGC) Position Raised by Northern Trust Corp
Northern Trust Corp boosted its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,692 shares of the financial services provider’s stock after purchasing an additional 6,382 shares during the period. Northern Trust Corp owned about 1.27% of Peapack-Gladstone Financial worth $6,162,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in shares of Peapack-Gladstone Financial by 57.4% in the fourth quarter. Citigroup Inc. now owns 9,629 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 3,512 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Peapack-Gladstone Financial by 4.4% in the fourth quarter. BlackRock Inc. now owns 1,252,633 shares of the financial services provider’s stock valued at $31,540,000 after acquiring an additional 52,895 shares in the last quarter. Seidman Lawrence B bought a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at approximately $2,518,000. Acadian Asset Management LLC bought a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at approximately $320,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Peapack-Gladstone Financial by 2.7% in the fourth quarter. Prudential Financial Inc. now owns 95,030 shares of the financial services provider’s stock valued at $2,393,000 after acquiring an additional 2,491 shares in the last quarter. Hedge funds and other institutional investors own 72.06% of the company’s stock.
PGC has been the subject of several recent analyst reports. BidaskClub upgraded shares of Peapack-Gladstone Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 25th. FIG Partners lowered shares of Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, January 28th. Zacks Investment Research downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Finally, Gabelli started coverage on shares of Peapack-Gladstone Financial in a report on Monday, February 11th. They issued a “buy” rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.50.
Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). Peapack-Gladstone Financial had a net margin of 21.67% and a return on equity of 9.91%. The firm had revenue of $40.64 million for the quarter, compared to the consensus estimate of $41.58 million. On average, equities research analysts expect that Peapack-Gladstone Financial Co. will post 2.37 EPS for the current fiscal year.
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About Peapack-Gladstone Financial
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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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