Trexquant Investment LP Boosts Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Trexquant Investment LP raised its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,331 shares of the financial services provider’s stock after purchasing an additional 2,660 shares during the quarter. Trexquant Investment LP owned 0.21% of Peapack-Gladstone Financial worth $1,164,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth about $3,590,000. Vanguard Group Inc. raised its holdings in Peapack-Gladstone Financial by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider’s stock valued at $30,037,000 after acquiring an additional 62,803 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Peapack-Gladstone Financial by 37.5% in the 4th quarter. JPMorgan Chase & Co. now owns 202,865 shares of the financial services provider’s stock valued at $6,502,000 after acquiring an additional 55,363 shares during the last quarter. American Century Companies Inc. raised its holdings in Peapack-Gladstone Financial by 11.6% in the 4th quarter. American Century Companies Inc. now owns 339,148 shares of the financial services provider’s stock valued at $10,870,000 after acquiring an additional 35,159 shares during the last quarter. Finally, Synergy Asset Management LLC raised its holdings in Peapack-Gladstone Financial by 7.9% in the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock valued at $11,199,000 after acquiring an additional 25,687 shares during the last quarter. 72.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gregory Martin Smith sold 17,633 shares of Peapack-Gladstone Financial stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $31.95, for a total transaction of $563,374.35. Following the completion of the sale, the executive vice president now directly owns 297 shares of the company’s stock, valued at approximately $9,489.15. The trade was a 98.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas L. Kennedy sold 20,000 shares of Peapack-Gladstone Financial stock in a transaction on Monday, March 17th. The stock was sold at an average price of $28.91, for a total transaction of $578,200.00. Following the sale, the chief executive officer now directly owns 43,703 shares of the company’s stock, valued at approximately $1,263,453.73. This trade represents a 31.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,633 shares of company stock valued at $1,716,024. Company insiders own 6.95% of the company’s stock.

Peapack-Gladstone Financial Stock Down 7.1 %

PGC stock opened at $24.64 on Friday. The firm has a 50-day moving average of $30.38 and a two-hundred day moving average of $31.77. The company has a market cap of $433.57 million, a price-to-earnings ratio of 13.32 and a beta of 0.82. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. As a group, analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.