Boston Partners Purchases 151,663 Shares of Peapack-Gladstone Financial Corp (PGC)

Boston Partners raised its position in shares of Peapack-Gladstone Financial Corp (NASDAQ:PGC) by 87.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,163 shares of the financial services provider’s stock after buying an additional 151,663 shares during the quarter. Boston Partners’ holdings in Peapack-Gladstone Financial were worth $11,352,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Peapack-Gladstone Financial by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 11,323 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 168 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Peapack-Gladstone Financial by 3.0% in the 2nd quarter. California Public Employees Retirement System now owns 34,765 shares of the financial services provider’s stock worth $1,088,000 after purchasing an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Peapack-Gladstone Financial by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,840 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 1,076 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Peapack-Gladstone Financial by 2.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 72,281 shares of the financial services provider’s stock worth $2,262,000 after purchasing an additional 1,891 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Peapack-Gladstone Financial by 7.1% in the 3rd quarter. Bessemer Group Inc. now owns 28,500 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 1,900 shares during the last quarter. 69.91% of the stock is owned by institutional investors and hedge funds.

In other Peapack-Gladstone Financial news, Director James R. Lamb sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $35.30, for a total value of $35,300.00. Following the completion of the transaction, the director now owns 21,756 shares of the company’s stock, valued at approximately $767,986.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 2,060 shares of company stock valued at $72,378. 5.89% of the stock is owned by insiders.

Peapack-Gladstone Financial Corp (PGC) opened at $34.32 on Friday. Peapack-Gladstone Financial Corp has a 52-week low of $28.24 and a 52-week high of $38.00. 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 capitalization of $652.25, a PE ratio of 16.91 and a beta of 0.96.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.47 earnings per share for the quarter. Peapack-Gladstone Financial had a return on equity of 9.71% and a net margin of 21.05%. The business had revenue of $39.19 million during the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, February 7th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 9.85%.

Several research firms have recently issued reports on PGC. Hovde Group reaffirmed a “buy” rating and issued a $39.00 price target on shares of Peapack-Gladstone Financial in a research report on Thursday, February 1st. BidaskClub raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Peapack-Gladstone Financial in a research report on Monday, February 5th. Finally, ValuEngine lowered Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th.

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Peapack-Gladstone Financial 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.

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

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