Who Owns Peapack-Gladstone Company?

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Who Really Owns Peapack-Gladstone?

Unraveling the ownership structure of a financial institution like Peapack-Gladstone Company is key to understanding its strategic direction and future prospects. With the recent rebrand to 'Peapack Private Bank & Trust' in early 2025, the company is signaling a significant shift in its approach, particularly in the competitive New York metropolitan market. This makes understanding the Peapack-Gladstone SWOT Analysis and its ownership even more critical for investors and stakeholders.

This exploration into Peapack-Gladstone Company ownership will reveal the key players shaping its trajectory. From its origins as a local bank to its current status as a publicly traded financial services holding company, understanding who owns Peapack-Gladstone is essential. We'll examine the influence of major investors, the role of the board of directors, and the impact of insider ownership on the company's performance and strategic decisions. Discover the answers to questions like: Who are the major investors in Peapack-Gladstone and who controls Peapack-Gladstone Bank?

The Peapack-Gladstone National Bank, the precursor to the current Peapack-Gladstone Company, was established in 1921. It was founded by a group of local business leaders. Their aim was to provide a more efficient and personalized banking experience.

The initial ownership structure of the bank was community-focused. This reflected the founders' vision of a bank deeply rooted in the local economy. While specific details about the founders and their initial equity are not readily available, the early actions of the bank suggest a strong community-centric approach.

By the end of 1925, the bank expanded into trust services, reorganizing as Peapack-Gladstone Trust Company. Its capital stock was $120,000, surpassing the state's minimum requirement of $100,000. This growth indicates early success and the confidence of the initial investors in the Peapack-Gladstone financial institution.

Early Challenges

The Great Depression brought significant challenges to the bank.

Community Support

To maintain solvency, local individuals purchased nearly worthless securities.

Recapitalization

This action provided crucial capital to the bank.

Reorganization

The bank reorganized again as Peapack-Gladstone Bank.

Commitment

This event highlighted the early stakeholders' commitment to the bank's survival.

Early Ownership

The community's investment directly shaped the early ownership and control.

The actions taken during the Great Depression underscore the dedication of the early investors and the community to the bank's foundational vision. This collective effort was crucial in sustaining the institution and reflects the initial ownership structure of the Peapack-Gladstone Company. Analyzing the Peapack-Gladstone Company ownership structure provides insights into the bank's resilience and community focus. For more details, you might find information on the Peapack-Gladstone Company annual report. The Peapack-Gladstone stock performance can also be found through financial news sources.

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The ownership of Peapack-Gladstone Financial Corporation, a publicly traded entity under the ticker PGC, has seen shifts over time. As of May 2025, the ownership structure indicates a significant presence of institutional investors, holding a substantial 75.73% of the shares. Insiders own 2.72%, while the general public holds a 14% stake. This distribution highlights the influence of institutional investors on the company's stock performance and governance.

Several key events have influenced the ownership dynamics of the company. In November 2013, Peapack-Gladstone Financial Corporation initiated a $42 million rights offering. This allowed existing shareholders to purchase additional common stock at $17 per share. The aim was to raise capital for corporate expansion. Unsubscribed shares were taken up by standby purchasers. The company's assets have also grown over time; as of December 31, 2024, total assets reached $7.01 billion, demonstrating the company's financial growth.

The major players in the company's ownership include institutional investors like BlackRock, Inc., Dimensional Fund Advisors LP, and The Vanguard Group, Inc. As of December 31, 2024, BlackRock held 10.06% of the shares, Dimensional Fund Advisors LP held 6.4%, and The Vanguard Group, Inc. held 5.37%. Other significant institutional holders include Boston Partners and Wellington Management Group LLP. Understanding the composition of the shareholders, including major investors, is crucial for anyone looking to understand the dynamics of the Peapack-Gladstone Company ownership.

Ownership Insights

The ownership structure of the company is primarily influenced by institutional investors. These investors hold a significant percentage of the company's shares, impacting stock performance and corporate governance. For more details on the company's growth strategy, consider reading about the Growth Strategy of Peapack-Gladstone.

• Institutional investors hold the majority of shares.
• Key shareholders include BlackRock, Dimensional Fund Advisors, and Vanguard.
• Rights offerings and financial activities have shaped ownership.
• Understanding ownership is crucial for stakeholders.

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The Board of Directors of Peapack-Gladstone Financial Corporation oversees the company's strategic direction and governance. In 2024, all members of the Peapack-Gladstone Financial Corporation Board also served on the board of its subsidiary, Peapack-Gladstone Bank (now Peapack Private Bank & Trust as of January 1, 2025). Both boards held 11 meetings in 2024. Each director attended at least 75% of their respective board and committee meetings, ensuring active involvement in the company's operations.

As of March 5, 2025, the company's common stock provides one vote per share. There were 17,596,195 shares outstanding and eligible to vote at the annual meeting. The significant institutional ownership, approximately 79.29% as of May 2025, indicates that major institutional shareholders hold substantial voting power. Understanding the target market is crucial for evaluating the company's performance and future prospects. Key executives include Douglas L. Kennedy (President, CEO & Director), Frank A. Cavallaro (Senior EVP & CFO), Robert A. Plante (Executive VP & COO), John P. Babcock (SEVP & President of Wealth Management), and Gregory Martin Smith (Senior EVP & President of Commercial Banking). Insider ownership stood at 7.63% as of a recent report.

Recent insider trading activity reveals that several executives have sold shares in early 2025. For instance, Douglas L. Kennedy, the President, CEO & Director, sold shares in March 2025. These sales, executed under trading plans, reflect changes in insider holdings and can provide insights into executive perspectives on the company's valuation and future performance. The company's ownership structure is influenced by both institutional and insider holdings, which are important factors in understanding who owns Peapack-Gladstone.

Key Takeaways on Peapack-Gladstone Company Ownership

The Board of Directors plays a critical role in overseeing the strategy and governance of the company.

• Institutional investors hold a significant portion of the voting power.
• Insider trading activity provides insights into executive sentiment.
• Understanding the ownership structure is key to evaluating the company.
• Knowing who owns Peapack-Gladstone is important for investors.

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Over the past few years, the ownership profile of Peapack-Gladstone Financial Corporation has seen notable shifts. A key development was the planned rebranding of Peapack-Gladstone Bank and its wealth management division to 'Peapack Private Bank & Trust,' or 'Peapack Private,' effective January 1, 2025. This strategic move, announced on November 1, 2024, aims to unify the brand and expand the company's presence in the New York metropolitan market, highlighting its boutique private banking model. This rebranding is part of a larger strategy to strengthen the company's position in the competitive financial landscape. Understanding the Competitors Landscape of Peapack-Gladstone can provide further insights into these strategic decisions.

Institutional ownership remains a significant factor in Peapack-Gladstone Company ownership. As of June 3, 2025, there were 334 institutional owners holding a total of 15,944,534 shares. Recent trends indicate an increase in total institutional holdings by 3.2% in the last quarter, with net institutional purchases reaching $42.1 million. The number of institutional investors reporting positions increased by 4.87% in the last quarter to 323 funds or institutions. Major institutional investors such as BlackRock, Inc., Dimensional Fund Advisors LP, and The Vanguard Group, Inc. continue to hold substantial stakes. For example, Vanguard increased its position by 3.2% in the last quarter of 2024, amounting to $45.6 million, while BlackRock reduced its holdings by 1.5%, a $22.3 million change.

Insider trading activity has primarily shown sales in the past six months. Douglas L. Kennedy, President & CEO, sold 25,000 shares in March 2025. Gregory Martin Smith, SEVP and President of Commercial Banking, sold 17,633 shares. John P. Babcock, SEVP & President of Private Wealth Management, sold 13,000 shares. Despite these sales, some insiders have also made purchases, such as F. Duffield Meyercord and Frank A. Cavallaro. Overall, insiders owned 7.63% of Peapack-Gladstone Financial stock as of a recent report. The company reported net income of $32.988 million in 2024, compared to $48.854 million in 2023. Total assets increased to $7.01 billion in 2024 from $6.48 billion in 2023.

Key Development

Planned rebranding to 'Peapack Private,' effective January 1, 2025, to unify the brand and expand in the New York metropolitan market.

Institutional Ownership

Increase in total institutional holdings by 3.2% in the last quarter; net institutional purchases of $42.1 million.

Insider Activity

Predominantly sales in the last six months; insiders owned 7.63% of the stock as of a recent report.

Financial Performance

Net income of $32.988 million in 2024; total assets increased to $7.01 billion in 2024.

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