American Century Companies Inc. Boosts Stock Position in Peapack-Gladstone Financial Corporation $PGC

American Century Companies Inc. lifted its position in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,561 shares of the financial services provider’s stock after acquiring an additional 1,413 shares during the quarter. American Century Companies Inc. owned 1.94% of Peapack-Gladstone Financial worth $9,672,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Peapack-Gladstone Financial by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,549 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 380 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Peapack-Gladstone Financial by 1.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 35,700 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 454 shares in the last quarter. Barclays PLC lifted its stake in Peapack-Gladstone Financial by 2.5% in the 4th quarter. Barclays PLC now owns 34,491 shares of the financial services provider’s stock valued at $1,105,000 after buying an additional 835 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Peapack-Gladstone Financial in the 4th quarter valued at approximately $32,000. Finally, Algert Global LLC lifted its stake in Peapack-Gladstone Financial by 5.6% in the 4th quarter. Algert Global LLC now owns 25,934 shares of the financial services provider’s stock valued at $831,000 after buying an additional 1,376 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Peapack-Gladstone Financial Stock Up 2.7%

Shares of NASDAQ PGC opened at $28.76 on Wednesday. Peapack-Gladstone Financial Corporation has a 12-month low of $23.96 and a 12-month high of $37.88. The company has a market cap of $507.61 million, a P/E ratio of 15.72 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $27.61 and a 200 day moving average price of $28.39.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Monday, July 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.16). Peapack-Gladstone Financial had a net margin of 7.62% and a return on equity of 5.25%. The company had revenue of $69.74 million during the quarter, compared to analyst estimates of $69.77 million. Research analysts anticipate that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, August 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 10.93%.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy bought 3,720 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average cost of $26.24 per share, for a total transaction of $97,612.80. Following the completion of the purchase, the chief executive officer directly owned 39,129 shares of the company’s stock, valued at approximately $1,026,744.96. The trade was a 10.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PGC. Wall Street Zen lowered Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Keefe, Bruyette & Woods reduced their target price on Peapack-Gladstone Financial from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Peapack-Gladstone Financial has a consensus rating of “Buy” and a consensus price target of $36.33.

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