Cornercap Investment Counsel Inc. bought a new stake in Peapack-Gladstone Financial Corp (NASDAQ:PGC) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 20,810 shares of the financial services provider’s stock, valued at approximately $729,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of PGC. Boston Partners boosted its stake in Peapack-Gladstone Financial by 87.9% during the 4th quarter. Boston Partners now owns 324,163 shares of the financial services provider’s stock worth $11,352,000 after purchasing an additional 151,663 shares during the period. Russell Investments Group Ltd. boosted its stake in Peapack-Gladstone Financial by 131.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 150,808 shares of the financial services provider’s stock worth $5,087,000 after purchasing an additional 85,761 shares during the period. Dimensional Fund Advisors LP boosted its stake in Peapack-Gladstone Financial by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 684,193 shares of the financial services provider’s stock worth $23,085,000 after purchasing an additional 52,531 shares during the period. Banc Funds Co. LLC boosted its stake in Peapack-Gladstone Financial by 2.9% during the 4th quarter. Banc Funds Co. LLC now owns 1,472,263 shares of the financial services provider’s stock worth $51,559,000 after purchasing an additional 42,000 shares during the period. Finally, Thrivent Financial For Lutherans acquired a new stake in Peapack-Gladstone Financial during the 4th quarter worth $1,462,000. 70.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on PGC. Hovde Group reiterated a “buy” rating and set a $39.00 price target on shares of Peapack-Gladstone Financial in a research note on Thursday, February 1st. BidaskClub upgraded shares of Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Peapack-Gladstone Financial in a research note on Monday, February 5th. Finally, ValuEngine cut shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th.
Shares of Peapack-Gladstone Financial Corp (NASDAQ PGC) opened at $34.85 on Wednesday. Peapack-Gladstone Financial Corp has a 52 week low of $28.24 and a 52 week high of $38.00. The company has a market cap of $658.77, a price-to-earnings ratio of 17.92 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.26.
Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Monday, January 29th. The financial services provider reported $0.47 EPS for the quarter. Peapack-Gladstone Financial had a net margin of 21.05% and a return on equity of 9.71%. The company had revenue of $39.19 million during the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, February 7th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 9.85%.
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Peapack-Gladstone Financial Company 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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