Brown Advisory Inc. Has $15.88 Million Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Brown Advisory Inc. reduced its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 495,317 shares of the financial services provider's stock after selling 19,741 shares during the period. Brown Advisory Inc. owned 2.82% of Peapack-Gladstone Financial worth $15,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGC. Dimensional Fund Advisors LP lifted its position in Peapack-Gladstone Financial by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider's stock valued at $35,811,000 after buying an additional 10,221 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Peapack-Gladstone Financial by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock worth $30,037,000 after purchasing an additional 62,803 shares in the last quarter. Boston Partners boosted its position in shares of Peapack-Gladstone Financial by 2.3% in the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider's stock worth $25,046,000 after buying an additional 17,220 shares during the period. Wellington Management Group LLP grew its stake in shares of Peapack-Gladstone Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider's stock valued at $20,975,000 after buying an additional 22,805 shares in the last quarter. Finally, Synergy Asset Management LLC raised its holdings in shares of Peapack-Gladstone Financial by 7.9% during the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider's stock valued at $11,199,000 after buying an additional 25,687 shares during the period. Hedge funds and other institutional investors own 72.75% of the company's stock.

Insiders Place Their Bets

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy sold 5,000 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $28.58, for a total transaction of $142,900.00. Following the completion of the sale, the chief executive officer now directly owns 35,409 shares in the company, valued at $1,011,989.22. This represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F Duffield Meyercord bought 6,316 shares of the stock in a transaction on Monday, March 31st. The stock was acquired at an average cost of $28.44 per share, for a total transaction of $179,627.04. Following the acquisition, the director now directly owns 140,372 shares in the company, valued at approximately $3,992,179.68. The trade was a 4.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 40,000 shares of company stock worth $1,152,650 in the last quarter. 7.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on PGC shares. Keefe, Bruyette & Woods reduced their price target on Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Raymond James began coverage on shares of Peapack-Gladstone Financial in a research note on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 target price on the stock.

Peapack-Gladstone Financial Price Performance

Shares of Peapack-Gladstone Financial stock traded down $0.27 on Friday, hitting $28.25. The company had a trading volume of 38,970 shares, compared to its average volume of 99,109. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The company has a market cap of $497.09 million, a PE ratio of 15.27 and a beta of 0.87. The business has a 50-day simple moving average of $27.77 and a 200-day simple moving average of $31.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.08). Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. The business had revenue of $64.36 million for the quarter, compared to the consensus estimate of $64.07 million. Research analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be paid a $0.05 dividend. The ex-dividend date is Thursday, May 8th. This represents a $0.20 annualized dividend and a yield of 0.71%. Peapack-Gladstone Financial's dividend payout ratio is presently 11.11%.

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.