Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Bought by Boston Partners

Boston Partners lifted its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 781,826 shares of the financial services provider’s stock after purchasing an additional 17,220 shares during the quarter. Boston Partners’ holdings in Peapack-Gladstone Financial were worth $25,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PGC. Victory Capital Management Inc. purchased a new stake in shares of Peapack-Gladstone Financial in the third quarter valued at about $959,000. Empowered Funds LLC grew its holdings in shares of Peapack-Gladstone Financial by 5.2% in the third quarter. Empowered Funds LLC now owns 48,710 shares of the financial services provider’s stock valued at $1,335,000 after purchasing an additional 2,412 shares during the period. Algert Global LLC grew its holdings in shares of Peapack-Gladstone Financial by 165.8% in the third quarter. Algert Global LLC now owns 24,558 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 15,320 shares during the period. FMR LLC grew its holdings in shares of Peapack-Gladstone Financial by 27.1% in the third quarter. FMR LLC now owns 28,358 shares of the financial services provider’s stock valued at $777,000 after purchasing an additional 6,054 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Peapack-Gladstone Financial by 108.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,195 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 13,623 shares during the period. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling at Peapack-Gladstone Financial

In other news, EVP Gregory Martin Smith sold 17,633 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $31.95, for a total transaction of $563,374.35. Following the sale, the executive vice president now owns 297 shares of the company’s stock, valued at approximately $9,489.15. This represents a 98.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas L. Kennedy sold 20,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $28.91, for a total transaction of $578,200.00. Following the sale, the chief executive officer now directly owns 43,703 shares in the company, valued at $1,263,453.73. This represents a 31.40 % decrease in their position. The disclosure for this sale can be found here. 7.63% of the stock is currently owned by corporate insiders.

Peapack-Gladstone Financial Trading Up 0.7 %

NASDAQ PGC opened at $29.28 on Thursday. The firm’s 50-day moving average is $31.88 and its two-hundred day moving average is $31.76. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $515.21 million, a P/E ratio of 15.83 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. On average, sell-side analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

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