Bailard Inc. lessened its stake in shares of Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC) by 13.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,900 shares of the financial services provider’s stock after selling 2,300 shares during the period. Bailard Inc. owned 0.08% of Peapack-Gladstone Financial Co. Common Stock worth $515,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of Peapack-Gladstone Financial Co. Common Stock by 34.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 223,700 shares of the financial services provider’s stock worth $7,739,000 after purchasing an additional 57,050 shares in the last quarter. Salzhauer Michael increased its holdings in shares of Peapack-Gladstone Financial Co. Common Stock by 2.0% during the 2nd quarter. Salzhauer Michael now owns 114,772 shares of the financial services provider’s stock worth $3,970,000 after acquiring an additional 2,300 shares during the last quarter. Strs Ohio increased its holdings in shares of Peapack-Gladstone Financial Co. Common Stock by 8.6% during the 2nd quarter. Strs Ohio now owns 23,900 shares of the financial services provider’s stock worth $826,000 after acquiring an additional 1,900 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Peapack-Gladstone Financial Co. Common Stock during the 2nd quarter worth approximately $293,000. Finally, Boston Partners increased its holdings in shares of Peapack-Gladstone Financial Co. Common Stock by 14.5% during the 2nd quarter. Boston Partners now owns 492,097 shares of the financial services provider’s stock worth $17,022,000 after acquiring an additional 62,339 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

PGC stock opened at $32.81 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The company has a market cap of $624.52 million, a P/E ratio of 16.91 and a beta of 0.97. Peapack-Gladstone Financial Co. Common Stock has a 1-year low of $29.24 and a 1-year high of $38.00.

Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $40.98 million for the quarter, compared to analyst estimates of $40.89 million. Peapack-Gladstone Financial Co. Common Stock had a return on equity of 10.15% and a net margin of 22.54%. equities analysts forecast that Peapack-Gladstone Financial Co. Common Stock will post 2.42 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Investors of record on Thursday, August 9th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, August 8th. Peapack-Gladstone Financial Co. Common Stock’s payout ratio is presently 10.31%.

PGC has been the topic of a number of recent analyst reports. BidaskClub lowered Peapack-Gladstone Financial Co. Common Stock from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. FIG Partners reissued an “outperform” rating on shares of Peapack-Gladstone Financial Co. Common Stock in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.75.

About Peapack-Gladstone Financial Co. Common Stock

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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Institutional Ownership by Quarter for Peapack-Gladstone Financial Co. Common Stock (NASDAQ:PGC)

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