Brown Advisory Inc. Has $16.83 Million Holdings in Peapack-Gladstone Financial Corporation (NASDAQ:PGC)

Brown Advisory Inc. lifted its position in Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Free Report) by 19.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 592,666 shares of the financial services provider's stock after buying an additional 97,349 shares during the quarter. Brown Advisory Inc. owned about 3.37% of Peapack-Gladstone Financial worth $16,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in Peapack-Gladstone Financial during the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS acquired a new position in Peapack-Gladstone Financial during the 4th quarter valued at $112,000. Quantbot Technologies LP increased its holdings in Peapack-Gladstone Financial by 507.2% in the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock valued at $189,000 after buying an additional 4,930 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Peapack-Gladstone Financial in the 4th quarter valued at $201,000. Finally, Stifel Financial Corp bought a new stake in Peapack-Gladstone Financial in the 4th quarter valued at $211,000. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Price Performance

Shares of PGC traded up $0.46 during trading hours on Monday, hitting $30.25. The stock had a trading volume of 57,313 shares, compared to its average volume of 90,781. The company's fifty day moving average is $28.23 and its two-hundred day moving average is $29.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.94. Peapack-Gladstone Financial Corporation has a 52 week low of $23.96 and a 52 week high of $37.88. The stock has a market capitalization of $536.64 million, a price-to-earnings ratio of 16.81 and a beta of 0.86.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.08). Peapack-Gladstone Financial had a return on equity of 5.27% and a net margin of 7.71%. The firm had revenue of $64.36 million during the quarter, compared to the consensus estimate of $64.07 million. On average, analysts anticipate that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current year.

Analyst Ratings Changes

PGC has been the topic of several analyst reports. Wall Street Zen raised shares of Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Raymond James Financial initiated coverage on shares of Peapack-Gladstone Financial in a report on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating on the stock in a 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.