SCHEDULE 13G/A: BlackRock Amends Stake in Peapack Gladstone Financial, Reports 7.7% Beneficial Ownership

BlackRock, Inc. has filed an amendment to its Schedule 13G, disclosing a 7.7% beneficial ownership stake in Peapack Gladstone Financial Corp as of March 31, 2025.

Summary

• BlackRock, Inc. filed an Amendment No. 14 to its Schedule 13G regarding its beneficial ownership in PEAPACK GLADSTONE FINANCIAL CORP.
• As of March 31, 2025, BlackRock, Inc. beneficially owns 1,357,349 shares of Common Stock, representing 7.7% of the class.
• BlackRock holds sole voting power over 1,324,461 shares and sole dispositive power over 1,357,349 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
• The filing was made under Rule 13d-1(b), indicating an institutional investor's routine disclosure.
• Several BlackRock subsidiaries, including some that beneficially own 5% or more of the outstanding shares, contribute to this aggregate ownership.

Sentiment

Score: 7

Explanation: The filing indicates a continued significant institutional holding by BlackRock, a positive signal of confidence, and confirms the investment is for ordinary business purposes rather than control, which generally implies stability.

Positives

• BlackRock, a major institutional investor, maintains a significant 7.7% stake in Peapack Gladstone Financial Corp, indicating continued confidence.
• The filing confirms that BlackRock's holding is for investment purposes in the ordinary course of business, not for control, which can provide stability.

Risks

• The filing explicitly states that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer, mitigating a potential risk of activist investor intervention.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding the future outlook of Peapack Gladstone Financial Corp or BlackRock's investment strategy beyond the stated intent of holding shares in the ordinary course of business.

Management Comments

• "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities."

Industry Context

This filing reflects BlackRock, Inc.'s ongoing investment activities as a major global asset manager. Their significant stake in Peapack Gladstone Financial Corp, a financial institution, is consistent with large institutional portfolios that often include holdings across various sectors, including regional banking or financial services.

Stakeholder Impact

• Shareholders of Peapack Gladstone Financial Corp are informed of BlackRock's continued significant beneficial ownership stake, which may be viewed as a vote of confidence from a major institutional investor.

Key Dates

Keywords

BlackRock, Peapack Gladstone Financial Corp, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Financial Services, Banking Sector