Federated Hermes Inc. Has $1.54 Million Stock Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Federated Hermes Inc. decreased its position in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,551 shares of the financial services provider’s stock after selling 908 shares during the period. Federated Hermes Inc. owned approximately 0.29% of Peapack-Gladstone Financial worth $1,537,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PGC. Vanguard Group Inc. increased its stake in Peapack-Gladstone Financial by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 876,954 shares of the financial services provider’s stock worth $22,494,000 after purchasing an additional 11,345 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Peapack-Gladstone Financial by 22.6% during the third quarter. Wellington Management Group LLP now owns 540,095 shares of the financial services provider’s stock worth $13,853,000 after acquiring an additional 99,700 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Peapack-Gladstone Financial by 4.1% during the third quarter. Brown Advisory Inc. now owns 531,705 shares of the financial services provider’s stock worth $13,638,000 after acquiring an additional 20,747 shares during the period. North Reef Capital Management LP lifted its position in Peapack-Gladstone Financial by 77.1% in the 3rd quarter. North Reef Capital Management LP now owns 500,000 shares of the financial services provider’s stock valued at $12,825,000 after acquiring an additional 217,646 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in Peapack-Gladstone Financial by 31.3% in the 3rd quarter. Kennedy Capital Management LLC now owns 299,024 shares of the financial services provider’s stock valued at $7,670,000 after acquiring an additional 71,252 shares in the last quarter. Institutional investors own 72.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PGC. Piper Sandler downgraded Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 24th. TheStreet downgraded Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods cut their target price on Peapack-Gladstone Financial from $33.50 to $30.50 and set an “outperform” rating on the stock in a research note on Friday, April 5th.

Peapack-Gladstone Financial Stock Up 0.7 %

Peapack-Gladstone Financial stock opened at $22.89 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Peapack-Gladstone Financial Co. has a 1-year low of $21.58 and a 1-year high of $31.49. The company has a fifty day simple moving average of $23.61 and a 200 day simple moving average of $25.51. The company has a market cap of $406.34 million, a P/E ratio of 10.50 and a beta of 0.99.

Peapack-Gladstone Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Wednesday, May 8th. Peapack-Gladstone Financial’s payout ratio is 9.17%.

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.