Bank of New York Mellon Corp decreased its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,124 shares of the financial services provider’s stock after selling 6,176 shares during the period. Bank of New York Mellon Corp owned about 0.51% of Peapack-Gladstone Financial worth $1,801,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of Peapack-Gladstone Financial by 2.5% in the second quarter. Prudential Financial Inc. now owns 105,423 shares of the financial services provider’s stock worth $1,975,000 after purchasing an additional 2,600 shares in the last quarter. BHZ Capital Management LP grew its stake in Peapack-Gladstone Financial by 12.7% during the second quarter. BHZ Capital Management LP now owns 56,026 shares of the financial services provider’s stock valued at $1,049,000 after acquiring an additional 6,301 shares in the last quarter. Cannell Peter B & Co. Inc. purchased a new position in Peapack-Gladstone Financial during the second quarter valued at $399,000. Trexquant Investment LP purchased a new position in Peapack-Gladstone Financial during the second quarter valued at $273,000. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in Peapack-Gladstone Financial during the second quarter valued at $2,045,000. Institutional investors own 68.74% of the company’s stock.

NASDAQ PGC opened at $15.00 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $283.58 million, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 3.18 and a beta of 1.13. The company’s 50-day simple moving average is $16.80 and its two-hundred day simple moving average is $17.44. Peapack-Gladstone Financial Co. has a one year low of $11.15 and a one year high of $31.72.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The business had revenue of $44.60 million for the quarter, compared to the consensus estimate of $46.22 million. Peapack-Gladstone Financial had a net margin of 14.46% and a return on equity of 6.80%. Equities analysts expect that Peapack-Gladstone Financial Co. will post 1.45 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the stock. ValuEngine raised shares of Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. BidaskClub cut shares of Peapack-Gladstone Financial from a “sell” rating to a “strong sell” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Peapack-Gladstone Financial presently has a consensus rating of “Hold” and a consensus target price of $33.25.

Peapack-Gladstone Financial Profile

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 (NASDAQ:PGC)

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