Jacobs Levy Equity Management Inc. Has $1.52 Million Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 52.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,552 shares of the financial services provider's stock after purchasing an additional 16,417 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.27% of Peapack-Gladstone Financial worth $1,524,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Peapack-Gladstone Financial by 0.9% in 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 acquiring an additional 10,221 shares in the last quarter. Vanguard Group Inc. boosted its position in Peapack-Gladstone Financial by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock valued at $30,037,000 after buying an additional 62,803 shares during the last quarter. Boston Partners increased its position in shares of Peapack-Gladstone Financial by 2.3% during the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider's stock worth $25,046,000 after acquiring an additional 17,220 shares during the last quarter. Wellington Management Group LLP lifted 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 worth $20,975,000 after acquiring an additional 22,805 shares in the last quarter. Finally, Synergy Asset Management LLC boosted its holdings in Peapack-Gladstone Financial by 7.9% in the fourth quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider's stock valued at $11,199,000 after purchasing an additional 25,687 shares during the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, CEO Douglas L. Kennedy sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $28.91, for a total value of $578,200.00. Following the transaction, the chief executive officer now owns 43,703 shares in the company, valued at approximately $1,263,453.73. This represents a 31.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John P. Babcock sold 10,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $28.76, for a total value of $287,600.00. Following the sale, the executive vice president now owns 39,155 shares of the company's stock, valued at approximately $1,126,097.80. This represents a 20.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock worth $1,152,650. 7.63% of the stock is owned by corporate insiders.

Peapack-Gladstone Financial Price Performance

PGC stock traded up $0.01 during trading on Tuesday, hitting $28.81. The company had a trading volume of 78,735 shares, compared to its average volume of 98,809. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. 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 firm has a market capitalization of $510.97 million, a price-to-earnings ratio of 15.57 and a beta of 0.87. The business has a 50 day moving average of $27.71 and a 200 day moving average of $31.49.

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 for the quarter, compared to analyst estimates of $64.07 million. As a group, research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. Peapack-Gladstone Financial's dividend payout ratio is currently 11.11%.

Wall Street Analysts Forecast Growth

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

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.