Traders are a little more bearish recently if you look at the uptick in short interest. The stock recorded a rise in short interest from August 15, 2017 to August 31, 2017 of 33.01%. Short interest grew from 161,645 to 215,000 over that timeframe. The days to cover decreased to 3.0 and the percentage of shorted shares was 0.01% on August 31.
These firms have modified their investment in PGC. As of quarter end Ubs Group Ag had bought a total of 1,787 shares growing its stake by 391.0%. The value in dollars went from $14,000 to $70,000 a change of $56,000 quarter over quarter. Allianz Asset Management Gmbh bolstered its stake by buying 3,335 shares an increase of 5.7% in the quarter. Allianz Asset Management Gmbh claims 62,330 shares valued at $1,950,000. The total value of its holdings increased 11.7%.
As of the end of the quarter Two Sigma Advisers, Lp had acquired 2,300 shares growing its holdings by 11.3%. The value of the investment in PGC increased from $600,000 to $707,000 a change of 17.8% quarter to quarter. As of the end of the quarter Fiera Capital Corp had sold a total of 2,000 shares trimming its position 14.3%. The value of the investment in (PGC) decreased from $414,000 to $375,000 decreasing 9.4% since the last quarter.
Keefe Bruyette & Woods initiated coverage on PGC with a rating of “Outperform”.
In the market the company is trading unchanged since yesterday’s close of 31.69. Additionally Peapack-Gladstone Financial Cor recently declared a dividend that was paid on Wed Aug 23, 2017. The dividend payment was $0.050 per share for the quarter or $0.20 annualized. This dividend amount was represent a yield of $0.62. The ex-dividend date was Monday the 7th of August 2017.
It is trading at $31.69 which is slightly above $30.63, the stock’s 50 day moving average and a tad above the 200 day moving average of $30.81. The 50 day moving average was up $1.06 and the 200 day average was up $0.88.
The company currently has a P/E ratio of 17.91 and the market cap is 551.50M. In the latest earnings report the EPS was $1.77 and is estimated to be $1.84 for the current year with 17,403,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.47 and the next full year EPS is projected to be $2.18.
Peapack-Gladstone Financial Corporation is a bank holding company. The Business’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 Bank provides private banking services to businesses, non-profits and consumers through its private banking locations in Bedminster, Morristown, Princeton and Teaneck, New Jersey; wealth management division, and branch network in Somerset, Morris, Hunterdon, Middlesex and Union counties..