Dimensional Fund Advisors LP Purchases 10,221 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Dimensional Fund Advisors LP lifted its position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,117,333 shares of the financial services provider's stock after buying an additional 10,221 shares during the period. Dimensional Fund Advisors LP owned about 6.36% of Peapack-Gladstone Financial worth $35,811,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Synergy Asset Management LLC boosted 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. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 8,393 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Peapack-Gladstone Financial during the fourth quarter valued at approximately $532,000. Assenagon Asset Management S.A. bought a new position in Peapack-Gladstone Financial in the fourth quarter valued at approximately $3,590,000. Finally, Empowered Funds LLC increased its position in shares of Peapack-Gladstone Financial by 4.9% during the 4th quarter. Empowered Funds LLC now owns 51,121 shares of the financial services provider's stock worth $1,638,000 after purchasing an additional 2,411 shares during the last quarter. 72.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director F Duffield Meyercord purchased 6,316 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average price of $28.44 per share, with a total value of $179,627.04. Following the completion of the purchase, the director now directly owns 140,372 shares in the company, valued at $3,992,179.68. This trade represents a 4.71 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas L. Kennedy sold 5,000 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $28.79, for a total transaction of $143,950.00. Following the sale, the chief executive officer now owns 40,409 shares in the company, valued at $1,163,375.11. The trade was a 11.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.

Peapack-Gladstone Financial Stock Performance

Shares of NASDAQ:PGC traded down $0.27 during trading on Friday, reaching $28.25. 38,970 shares of the stock were exchanged, compared to its average volume of 98,959. The firm has a market cap of $497.09 million, a PE ratio of 15.27 and a beta of 0.87. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88. The stock has a 50-day moving average price of $27.77 and a 200-day moving average price of $31.63.

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

Peapack-Gladstone Financial Dividend Announcement

The firm also recently declared 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 0.71%. The ex-dividend date is Thursday, May 8th. Peapack-Gladstone Financial's dividend payout ratio is 11.11%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PGC shares. Raymond James started coverage on Peapack-Gladstone Financial in a report on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th.

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.