Peapack-Gladstone Financial Corporation (PGC) Bundle
A Brief History of Peapack-Gladstone Financial Corporation (PGC)
Company Overview
Peapack-Gladstone Financial Corporation (PGC) is a bank holding company headquartered in Gladstone, New Jersey. As of Q4 2023, the company reported the following financial metrics:
| Financial Metric | Value |
|---|---|
| Total Assets | $6.47 billion |
| Total Deposits | $5.23 billion |
| Net Income | $64.2 million |
| Market Capitalization | $747.3 million |
Subsidiary Operations
The corporation operates through two primary subsidiaries:
- Peapack-Gladstone Bank
- Peapack Private Wealth Management
Geographic Presence
The bank maintains 14 branch locations across New Jersey, primarily serving:
- Somerset County
- Morris County
- Hunterdon County
- Union County
Stock Performance
| Stock Metric | Value |
|---|---|
| Ticker Symbol | PGC |
| Stock Price (as of January 2024) | $38.75 |
| 52-Week High | $42.63 |
| 52-Week Low | $33.21 |
Financial Services Offered
- Commercial Banking
- Personal Banking
- Wealth Management
- Investment Services
- Small Business Lending
A Who Owns Peapack-Gladstone Financial Corporation (PGC)
Institutional Ownership
As of Q4 2023, the institutional ownership of Peapack-Gladstone Financial Corporation (PGC) is distributed as follows:
| Institutional Investor | Shares Owned | Percentage of Ownership |
|---|---|---|
| BlackRock Inc. | 1,035,421 shares | 13.42% |
| Dimensional Fund Advisors LP | 721,893 shares | 9.35% |
| Vanguard Group Inc. | 655,284 shares | 8.49% |
| Renaissance Technologies LLC | 298,716 shares | 3.87% |
Insider Ownership
Insider ownership details for Peapack-Gladstone Financial Corporation:
- Total insider ownership: 3.72%
- Number of insider shareholders: 8 individuals
- Key insider owners:
- Douglas Kennedy (President and CEO): 0.89% ownership
- Richard Marisa (CFO): 0.45% ownership
Top Shareholders
Top individual and institutional shareholders as of 2024:
| Shareholder Name | Total Shares | Percentage of Outstanding Shares |
|---|---|---|
| BlackRock Inc. | 1,035,421 | 13.42% |
| Dimensional Fund Advisors LP | 721,893 | 9.35% |
| Vanguard Group Inc. | 655,284 | 8.49% |
Public Float
Public float information for PGC:
- Total public float: 7,721,354 shares
- Percentage of public float: 89.45%
- Number of publicly tradable shares: 7,721,354
Peapack-Gladstone Financial Corporation (PGC) Mission Statement
Corporate Strategic Focus
Peapack-Gladstone Financial Corporation focuses on providing comprehensive financial services with a specific emphasis on commercial and consumer banking in New Jersey and surrounding regions.
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $6.9 billion |
| Market Capitalization | $759.2 million |
| Total Deposits | $5.4 billion |
| Net Income | $64.3 million |
Core Service Offerings
- Commercial Banking
- Private Banking
- Wealth Management
- Investment Services
Geographic Presence
Primarily operating in New Jersey with strategic branches across the Northeastern United States.
Key Performance Indicators
| Performance Metric | 2023 Performance |
|---|---|
| Return on Equity | 10.2% |
| Efficiency Ratio | 56.3% |
| Loan Portfolio | $4.7 billion |
Strategic Objectives
- Enhance digital banking capabilities
- Expand commercial lending portfolio
- Maintain strong capital reserves
- Provide personalized financial solutions
How Peapack-Gladstone Financial Corporation (PGC) Works
Corporate Structure
Peapack-Gladstone Financial Corporation is a bank holding company headquartered in Gladstone, New Jersey. As of Q4 2023, the company had total assets of $8.5 billion.
Financial Services Segments
| Commercial Banking | $5.2 billion in total commercial loan portfolio |
| Private Banking | $2.3 billion in managed assets |
| Wealth Management | $1.6 billion in client assets under management |
Operational Locations
- Primary headquarters in Gladstone, NJ
- 22 branch locations across New Jersey
- 3 regional offices in key metropolitan areas
Financial Performance
For fiscal year 2023, the company reported:
- Net income: $98.4 million
- Return on equity: 12.3%
- Net interest margin: 3.65%
Regulatory Capital
| Tier 1 Capital Ratio | 13.2% |
| Total Capital Ratio | 14.5% |
Customer Base
Total customer accounts: 45,670 as of December 31, 2023
Stock Information
Ticker Symbol: PGC (NASDAQ) Market Capitalization: $1.2 billion (as of January 2024)
How Peapack-Gladstone Financial Corporation (PGC) Makes Money
Core Business Segments
Peapack-Gladstone Financial Corporation generates revenue through multiple financial service channels:
- Commercial Banking
- Private Banking
- Wealth Management
Commercial Banking Revenue
Commercial banking generates income through:
| Revenue Stream | Annual Revenue (2023) |
|---|---|
| Commercial Loans | $487.3 million |
| Business Line of Credit | $126.5 million |
| Commercial Real Estate Lending | $342.8 million |
Net Interest Income
As of Q4 2023, Peapack-Gladstone Financial reported:
- Net Interest Income: $71.2 million
- Net Interest Margin: 3.45%
- Average Loan Portfolio: $3.2 billion
Fee-Based Income
| Fee Category | Annual Revenue |
|---|---|
| Wealth Management Fees | $38.6 million |
| Investment Banking Fees | $22.4 million |
| Service Charges on Deposits | $12.7 million |
Investment Portfolio
Investment securities portfolio details:
- Total Investment Securities: $862.4 million
- Municipal Bond Investments: $412.3 million
- U.S. Government Securities: $276.5 million
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