Brown Advisory Inc. Raises Holdings in Peapack-Gladstone Financial Corporation (NASDAQ:PGC)

Brown Advisory Inc. grew its stake in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Free Report) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 592,666 shares of the financial services provider's stock after buying an additional 97,349 shares during the period. Brown Advisory Inc. owned 3.37% of Peapack-Gladstone Financial worth $16,832,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Peapack-Gladstone Financial by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 129,982 shares of the financial services provider's stock valued at $4,166,000 after purchasing an additional 895 shares during the period. Victory Capital Management Inc. raised its stake in Peapack-Gladstone Financial by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider's stock valued at $1,140,000 after purchasing an additional 567 shares during the period. Proficio Capital Partners LLC bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at approximately $532,000. AlphaQuest LLC raised its stake in Peapack-Gladstone Financial by 172.4% during the 4th quarter. AlphaQuest LLC now owns 15,990 shares of the financial services provider's stock valued at $512,000 after purchasing an additional 10,119 shares during the period. Finally, Boston Partners raised its stake in Peapack-Gladstone Financial by 2.3% during the 4th quarter. Boston Partners now owns 781,826 shares of the financial services provider's stock valued at $25,046,000 after purchasing an additional 17,220 shares during the period. 72.75% of the stock is owned by hedge funds and other institutional investors.

Peapack-Gladstone Financial Trading Down 2.1%

Shares of Peapack-Gladstone Financial stock traded down $0.63 on Friday, reaching $29.79. The company had a trading volume of 82,105 shares, compared to its average volume of 90,916. The firm has a market cap of $528.36 million, a price-to-earnings ratio of 16.55 and a beta of 0.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.94. The firm's 50-day moving average price is $28.23 and its two-hundred day moving average price is $29.49. Peapack-Gladstone Financial Corporation has a 1 year low of $23.96 and a 1 year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $0.43 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $64.36 million during the quarter, compared to analysts' expectations of $64.07 million. As a group, research analysts predict that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PGC. Keefe, Bruyette & Woods decreased their target price on Peapack-Gladstone Financial from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Raymond James Financial initiated coverage on Peapack-Gladstone Financial in a research note on Friday, April 11th. They issued a "strong-buy" rating and a $39.00 price objective on the stock.

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.