Dimensional Fund Advisors LP lifted its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,312,005 shares of the financial services provider’s stock after acquiring an additional 29,207 shares during the period. Dimensional Fund Advisors LP owned approximately 7.32% of Peapack-Gladstone Financial worth $48,833,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PGC. JPMorgan Chase & Co. lifted its holdings in shares of Peapack-Gladstone Financial by 49.2% during the 1st quarter. JPMorgan Chase & Co. now owns 137,654 shares of the financial services provider’s stock worth $4,783,000 after acquiring an additional 45,416 shares during the period. American Century Companies Inc. lifted its holdings in Peapack-Gladstone Financial by 28.3% during the 1st quarter. American Century Companies Inc. now owns 74,912 shares of the financial services provider’s stock valued at $2,603,000 after purchasing an additional 16,526 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Peapack-Gladstone Financial by 52.9% during the 1st quarter. MetLife Investment Management LLC now owns 9,287 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 3,215 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Peapack-Gladstone Financial by 1.4% during the 1st quarter. Federated Hermes Inc. now owns 64,812 shares of the financial services provider’s stock valued at $2,252,000 after purchasing an additional 895 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Peapack-Gladstone Financial by 9.8% during the 1st quarter. First Trust Advisors LP now owns 9,493 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 845 shares during the last quarter. 72.99% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
PGC has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Peapack-Gladstone Financial from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. StockNews.com started coverage on shares of Peapack-Gladstone Financial in a research report on Thursday, May 18th. They issued a “hold” rating for the company.
Peapack-Gladstone Financial Stock Up 0.7 %
Shares of NASDAQ:PGC opened at $27.43 on Tuesday. Peapack-Gladstone Financial Co. has a one year low of $22.88 and a one year high of $42.19. The company has a 50 day moving average of $27.47 and a 200-day moving average of $33.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $494.29 million, a price-to-earnings ratio of 6.38 and a beta of 1.03.
Peapack-Gladstone Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 8th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 5th. Peapack-Gladstone Financial’s dividend payout ratio is 4.65%.
Insider Transactions at Peapack-Gladstone Financial
In other Peapack-Gladstone Financial news, Director Carmen M. Bowser purchased 1,000 shares of the stock in a transaction dated Friday, March 24th. The stock was bought at an average price of $28.46 per share, for a total transaction of $28,460.00. Following the transaction, the director now directly owns 3,168 shares in the company, valued at $90,161.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carmen M. Bowser acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was purchased at an average price of $28.46 per share, for a total transaction of $28,460.00. Following the completion of the acquisition, the director now owns 3,168 shares in the company, valued at $90,161.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John P. Babcock sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $30.59, for a total transaction of $152,950.00. Following the transaction, the executive vice president now owns 71,242 shares of the company’s stock, valued at approximately $2,179,292.78. The disclosure for this sale can be found here. Insiders acquired a total of 6,780 shares of company stock worth $192,830 in the last quarter. 7.63% of the stock is owned by company insiders.
Peapack-Gladstone Financial Company Profile
(Get Rating)
Peapack-Gladstone Financial Corp. is a bank holding company, which engages in the provision of private banking services to businesses, non-profits, and consumers. It operates through the Banking and Peapack Private segments. The Banking segment is involved in the delivery of loan and deposit products to customers.
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