Transcend Wealth Collective LLC Sells 5,172 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Transcend Wealth Collective LLC cut its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 26.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 14,219 shares of the financial services provider’s stock after selling 5,172 shares during the period. Transcend Wealth Collective LLC’s holdings in Peapack-Gladstone Financial were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Peapack-Gladstone Financial by 4.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,903 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 496 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Peapack-Gladstone Financial by 44.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,250 shares of the financial services provider’s stock valued at $74,000 after buying an additional 1,000 shares during the last quarter. Matarin Capital Management LLC bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at approximately $533,000. SG Americas Securities LLC purchased a new position in shares of Peapack-Gladstone Financial during the fourth quarter valued at approximately $124,000. Finally, BlackRock Inc. raised its stake in Peapack-Gladstone Financial by 19.8% during the 4th quarter. BlackRock Inc. now owns 1,636,179 shares of the financial services provider’s stock valued at $37,240,000 after buying an additional 270,247 shares during the last quarter. 70.63% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ PGC opened at $32.68 on Friday. The firm’s 50-day simple moving average is $32.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.97. The stock has a market cap of $622.10 million, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. Peapack-Gladstone Financial Co. has a 12-month low of $14.38 and a 12-month high of $33.92.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Thursday, April 29th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.13. The firm had revenue of $49.61 million for the quarter, compared to analysts’ expectations of $46.34 million. Peapack-Gladstone Financial had a net margin of 16.99% and a return on equity of 7.31%. On average, equities analysts forecast that Peapack-Gladstone Financial Co. will post 2.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 25th. Stockholders of record on Tuesday, May 11th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, May 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. Peapack-Gladstone Financial’s dividend payout ratio is presently 14.60%.

In related news, EVP Gregory Martin Smith sold 1,698 shares of the firm’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $32.67, for a total transaction of $55,473.66. Following the completion of the transaction, the executive vice president now owns 3,859 shares of the company’s stock, valued at $126,073.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vincent A. Spero sold 5,835 shares of the firm’s stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $30.25, for a total transaction of $176,508.75. Following the transaction, the executive vice president now directly owns 42,666 shares of the company’s stock, valued at approximately $1,290,646.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,935 shares of company stock valued at $342,956. 5.49% of the stock is owned by insiders.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Peapack-Gladstone Financial from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, April 1st. TheStreet raised shares of Peapack-Gladstone Financial from a “c” rating to a “b-” rating in a report on Thursday, April 29th. Finally, Hovde Group downgraded shares of Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $29.50.

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.

Further Reading: The role of implied volatility with call option volume

Want to see what other hedge funds are holding PGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Peapack-Gladstone Financial Co. (NASDAQ:PGC).

Institutional Ownership by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

Receive News & Ratings for Peapack-Gladstone Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peapack-Gladstone Financial and related companies with MarketBeat.com's FREE daily email newsletter.