Peapack-Gladstone Financial Co. (NASDAQ:PGC) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,117,333 shares of the financial services provider's stock after acquiring an additional 10,221 shares during the quarter. Dimensional Fund Advisors LP owned 6.36% of Peapack-Gladstone Financial worth $35,811,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PGC. Barclays PLC boosted its stake in shares of Peapack-Gladstone Financial by 69.9% during the 3rd quarter. Barclays PLC now owns 33,656 shares of the financial services provider's stock worth $923,000 after acquiring an additional 13,846 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Peapack-Gladstone Financial by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider's stock worth $4,043,000 after purchasing an additional 8,393 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Peapack-Gladstone Financial in the fourth quarter valued at $3,590,000. Albion Financial Group UT purchased a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at $35,000. Finally, Synergy Asset Management LLC raised its stake 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 worth $11,199,000 after buying an additional 25,687 shares during the last quarter. Hedge funds and other institutional investors own 72.75% of the company's stock.

Peapack-Gladstone Financial Trading Up 1.2 %

Shares of NASDAQ PGC traded up $0.35 during midday trading on Thursday, reaching $28.48. 88,714 shares of the stock were exchanged, compared to its average volume of 99,200. The stock has a 50 day moving average price of $27.88 and a 200-day moving average price of $31.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $501.05 million, a P/E ratio of 15.39 and a beta of 0.87. Peapack-Gladstone Financial Co. has a 52-week low of $20.30 and a 52-week high of $37.88.

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

Peapack-Gladstone Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 8th. Peapack-Gladstone Financial's dividend payout ratio (DPR) is presently 11.11%.

Analysts Set New Price Targets

PGC has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their target price on shares of 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 Peapack-Gladstone Financial in a report on Friday, April 11th. They set a "strong-buy" rating and a $39.00 target price on the stock.

Insider Activity

In other news, CEO Douglas L. Kennedy sold 5,000 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was 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 trade represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director F Duffield Meyercord purchased 6,316 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were bought at an average cost of $28.44 per share, with a total value of $179,627.04. Following the transaction, the director now directly owns 140,372 shares of the company's stock, valued at approximately $3,992,179.68. This represents a 4.71 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 40,000 shares of company stock valued at $1,152,650. Company insiders own 7.63% of the company's stock.

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.