Bank of Montreal Can Acquires 5,401 Shares of Peapack-Gladstone Financial Co. (PGC)

Bank of Montreal Can increased its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,626 shares of the financial services provider’s stock after purchasing an additional 5,401 shares during the period. Bank of Montreal Can owned approximately 0.29% of Peapack-Gladstone Financial worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. grew its position in Peapack-Gladstone Financial by 114.5% during the third quarter. Russell Investments Group Ltd. now owns 479,856 shares of the financial services provider’s stock valued at $14,822,000 after buying an additional 256,156 shares during the period. BlackRock Inc. grew its position in Peapack-Gladstone Financial by 9.2% during the second quarter. BlackRock Inc. now owns 1,180,069 shares of the financial services provider’s stock valued at $40,819,000 after buying an additional 99,002 shares during the period. Dimensional Fund Advisors LP grew its position in Peapack-Gladstone Financial by 8.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,042,789 shares of the financial services provider’s stock valued at $32,212,000 after buying an additional 83,194 shares during the period. Renaissance Technologies LLC grew its position in Peapack-Gladstone Financial by 10.7% during the third quarter. Renaissance Technologies LLC now owns 319,720 shares of the financial services provider’s stock valued at $9,876,000 after buying an additional 30,900 shares during the period. Finally, United Services Automobile Association grew its position in Peapack-Gladstone Financial by 65.7% during the second quarter. United Services Automobile Association now owns 63,819 shares of the financial services provider’s stock valued at $2,208,000 after buying an additional 25,300 shares during the period. 70.47% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on PGC. BidaskClub lowered shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Zacks Investment Research lowered shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $36.00 target price on shares of Peapack-Gladstone Financial in a research report on Wednesday, October 31st. Finally, Gabelli assumed coverage on shares of Peapack-Gladstone Financial in a research report on Monday. They issued a “buy” rating and a $37.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Peapack-Gladstone Financial presently has an average rating of “Hold” and a consensus target price of $36.50.

Shares of NASDAQ PGC opened at $28.37 on Thursday. Peapack-Gladstone Financial Co. has a 52-week low of $23.96 and a 52-week high of $36.88. The stock has a market capitalization of $524.29 million, a PE ratio of 12.28 and a beta of 1.02. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Friday, January 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). Peapack-Gladstone Financial had a net margin of 21.67% and a return on equity of 10.09%. The company had revenue of $40.64 million during the quarter, compared to analyst estimates of $41.58 million. Research analysts predict that Peapack-Gladstone Financial Co. will post 2.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Thursday, February 7th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 8.66%.

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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 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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