Peapack-Gladstone Financial Corp (PGC) Shares Sold by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. decreased its stake in shares of Peapack-Gladstone Financial Corp (NASDAQ:PGC) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,574 shares of the financial services provider’s stock after selling 4,300 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.31% of Peapack-Gladstone Financial worth $1,907,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in PGC. Russell Investments Group Ltd. boosted its position in shares of Peapack-Gladstone Financial by 131.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 150,808 shares of the financial services provider’s stock valued at $5,087,000 after purchasing an additional 85,761 shares in the last quarter. Boston Partners boosted its position in shares of Peapack-Gladstone Financial by 74.4% during the 3rd quarter. Boston Partners now owns 172,500 shares of the financial services provider’s stock valued at $5,820,000 after purchasing an additional 73,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Peapack-Gladstone Financial by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 684,193 shares of the financial services provider’s stock valued at $23,085,000 after purchasing an additional 52,531 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at about $1,479,000. Finally, Systematic Financial Management LP bought a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at about $1,248,000. 69.48% of the stock is currently owned by hedge funds and other institutional investors.
In other Peapack-Gladstone Financial news, Director James R. Lamb sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $35.30, for a total value of $35,300.00. Following the completion of the transaction, the director now directly owns 21,756 shares in the company, valued at $767,986.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 2,060 shares of company stock valued at $72,378. Corporate insiders own 5.89% of the company’s stock.
Peapack-Gladstone Financial Corp (PGC) opened at $35.44 on Friday. Peapack-Gladstone Financial Corp has a 12-month low of $28.24 and a 12-month high of $37.30. The firm has a market cap of $640.55, a PE ratio of 18.46 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.02 and a current ratio of 1.02.
Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Friday, October 27th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Peapack-Gladstone Financial had a net margin of 20.36% and a return on equity of 9.54%. The company had revenue of $38.82 million during the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Thursday, November 9th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, November 8th. Peapack-Gladstone Financial’s payout ratio is 10.53%.
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Peapack-Gladstone Financial 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.
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