Acadian Asset Management LLC Invests $1.44 Million in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Acadian Asset Management LLC bought a new position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 63,794 shares of the financial services provider’s stock, valued at approximately $1,444,000. Acadian Asset Management LLC owned about 0.36% of Peapack-Gladstone Financial as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Peapack-Gladstone Financial by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,269,472 shares of the financial services provider’s stock valued at $37,856,000 after purchasing an additional 20,053 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in Peapack-Gladstone Financial by 1.4% during the 4th quarter. Peapack Gladstone Financial Corp now owns 916,250 shares of the financial services provider’s stock valued at $27,322,000 after purchasing an additional 12,976 shares during the last quarter. Vanguard Group Inc. grew its holdings in Peapack-Gladstone Financial by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider’s stock valued at $21,972,000 after purchasing an additional 9,991 shares during the last quarter. Boston Partners grew its holdings in Peapack-Gladstone Financial by 1.6% during the 1st quarter. Boston Partners now owns 762,659 shares of the financial services provider’s stock valued at $18,339,000 after purchasing an additional 12,226 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Peapack-Gladstone Financial by 4.5% during the 4th quarter. Wellington Management Group LLP now owns 564,178 shares of the financial services provider’s stock valued at $16,824,000 after purchasing an additional 24,083 shares during the last quarter. 72.75% of the stock is currently owned by institutional investors.

Insider Transactions at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $26.89, for a total value of $268,900.00. Following the completion of the sale, the executive vice president now owns 52,155 shares of the company’s stock, valued at approximately $1,402,447.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.63% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $32.00 price target (up from $28.00) on shares of Peapack-Gladstone Financial in a report on Monday, July 29th.

Peapack-Gladstone Financial Price Performance

Peapack-Gladstone Financial stock opened at $26.58 on Monday. The stock has a market cap of $472.22 million, a price-to-earnings ratio of 12.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. Peapack-Gladstone Financial Co. has a 1 year low of $20.30 and a 1 year high of $30.68. The firm has a 50-day moving average of $26.34 and a two-hundred day moving average of $24.11.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $100.79 million during the quarter, compared to analysts’ expectations of $56.80 million. Peapack-Gladstone Financial had a net margin of 8.50% and a return on equity of 5.91%. On average, research analysts forecast that Peapack-Gladstone Financial Co. will post 1.68 earnings per share for the current year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.05 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. Peapack-Gladstone Financial’s payout ratio is presently 9.17%.

About Peapack-Gladstone Financial

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.