Marshall Wace North America L.P. Invests $267,000 in Peapack-Gladstone Financial Corporation (PGC)
Marshall Wace North America L.P. purchased a new position in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,610 shares of the financial services provider’s stock, valued at approximately $267,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in Peapack-Gladstone Financial Corporation by 1.7% in the second quarter. Russell Investments Group Ltd. now owns 65,047 shares of the financial services provider’s stock valued at $2,035,000 after purchasing an additional 1,094 shares during the period. Rhumbline Advisers grew its holdings in Peapack-Gladstone Financial Corporation by 10.4% in the second quarter. Rhumbline Advisers now owns 19,153 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 1,800 shares during the period. Bank of New York Mellon Corp grew its holdings in Peapack-Gladstone Financial Corporation by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 93,893 shares of the financial services provider’s stock valued at $2,938,000 after purchasing an additional 3,984 shares during the period. Bessemer Group Inc. grew its holdings in Peapack-Gladstone Financial Corporation by 36.4% in the second quarter. Bessemer Group Inc. now owns 26,600 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 7,100 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Peapack-Gladstone Financial Corporation in the second quarter valued at approximately $304,000. Institutional investors and hedge funds own 67.86% of the company’s stock.
Shares of Peapack-Gladstone Financial Corporation (PGC) opened at 32.02 on Friday. The stock has a market capitalization of $557.24 million, a P/E ratio of 18.10 and a beta of 1.05. Peapack-Gladstone Financial Corporation has a 12-month low of $20.29 and a 12-month high of $33.68. The company has a 50-day moving average of $30.63 and a 200-day moving average of $30.82.
Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last issued its earnings results on Friday, July 28th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $35.14 million for the quarter. Peapack-Gladstone Financial Corporation had a return on equity of 9.12% and a net margin of 19.54%. Equities analysts expect that Peapack-Gladstone Financial Corporation will post $1.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a $0.05 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. Peapack-Gladstone Financial Corporation’s dividend payout ratio is 11.30%.
A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Peapack-Gladstone Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday. Keefe, Bruyette & Woods assumed coverage on shares of Peapack-Gladstone Financial Corporation in a report on Monday, July 17th. They issued an “outperform” rating and a $38.00 target price for the company. Finally, ValuEngine upgraded shares of Peapack-Gladstone Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Peapack-Gladstone Financial Corporation currently has a consensus rating of “Buy” and an average price target of $32.00.
COPYRIGHT VIOLATION WARNING: “Marshall Wace North America L.P. Invests $267,000 in Peapack-Gladstone Financial Corporation (PGC)” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.dailypolitical.com/2017/09/16/marshall-wace-north-america-l-p-invests-267000-in-peapack-gladstone-financial-corporation-pgc.html.
Peapack-Gladstone Financial Corporation Profile
Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.
Receive News & Ratings for Peapack-Gladstone Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peapack-Gladstone Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.