Peapack-Gladstone Financial Corporation (PGC) Shares Bought by ClariVest Asset Management LLC

ClariVest Asset Management LLC increased its holdings in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) by 11.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 204,960 shares of the financial services provider’s stock after purchasing an additional 21,154 shares during the quarter. ClariVest Asset Management LLC owned 1.12% of Peapack-Gladstone Financial Corporation worth $6,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its position in Peapack-Gladstone Financial Corporation by 131.8% during the third quarter. Russell Investments Group Ltd. now owns 150,808 shares of the financial services provider’s stock valued at $5,087,000 after acquiring an additional 85,761 shares during the last quarter. Bessemer Group Inc. increased its position in Peapack-Gladstone Financial Corporation by 7.1% during the third quarter. Bessemer Group Inc. now owns 28,500 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 1,900 shares during the last quarter. Boston Partners increased its position in Peapack-Gladstone Financial Corporation by 74.4% during the third quarter. Boston Partners now owns 172,500 shares of the financial services provider’s stock valued at $5,820,000 after acquiring an additional 73,600 shares during the last quarter. IndexIQ Advisors LLC increased its position in Peapack-Gladstone Financial Corporation by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 29,292 shares of the financial services provider’s stock valued at $988,000 after acquiring an additional 13,292 shares during the last quarter. Finally, Siena Capital Partners GP LLC increased its position in Peapack-Gladstone Financial Corporation by 12.8% during the third quarter. Siena Capital Partners GP LLC now owns 132,009 shares of the financial services provider’s stock valued at $4,454,000 after acquiring an additional 15,000 shares during the last quarter. 67.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have commented on PGC. Keefe, Bruyette & Woods restated a “buy” rating and issued a $38.50 price target on shares of Peapack-Gladstone Financial Corporation in a research report on Thursday, October 26th. BidaskClub upgraded Peapack-Gladstone Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, ValuEngine cut Peapack-Gladstone Financial Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $35.75.

Shares of Peapack-Gladstone Financial Corporation (PGC) remained flat at $$32.36 on Friday. The stock had a trading volume of 46,126 shares, compared to its average volume of 43,420. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $590.89, a PE ratio of 17.03 and a beta of 1.02. Peapack-Gladstone Financial Corporation has a 52 week low of $25.79 and a 52 week high of $35.85.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last issued its quarterly earnings results on Friday, October 27th. The financial services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. The business had revenue of $38.82 million during the quarter. Peapack-Gladstone Financial Corporation had a return on equity of 9.54% and a net margin of 20.36%.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, November 8th. Peapack-Gladstone Financial Corporation’s payout ratio is 10.53%.

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Peapack-Gladstone Financial Corporation Company Profile

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’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 Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

Institutional Ownership by Quarter for Peapack-Gladstone Financial Corporation (NASDAQ:PGC)

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