Peapack-Gladstone Financial Corp (PGC) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of Peapack-Gladstone Financial Corp (NASDAQ:PGC) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 684,193 shares of the financial services provider’s stock after buying an additional 52,531 shares during the period. Dimensional Fund Advisors LP owned 3.75% of Peapack-Gladstone Financial worth $23,085,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PGC. Schwab Charles Investment Management Inc. raised its stake in Peapack-Gladstone Financial by 63.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 96,260 shares of the financial services provider’s stock worth $3,248,000 after purchasing an additional 37,503 shares in the last quarter. Wells Fargo & Company MN raised its stake in Peapack-Gladstone Financial by 57.4% in the 3rd quarter. Wells Fargo & Company MN now owns 17,818 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 6,495 shares in the last quarter. Nordea Investment Management AB raised its stake in Peapack-Gladstone Financial by 13.5% in the 3rd quarter. Nordea Investment Management AB now owns 114,400 shares of the financial services provider’s stock worth $3,860,000 after purchasing an additional 13,600 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Peapack-Gladstone Financial in the 3rd quarter worth about $330,000. Finally, ClariVest Asset Management LLC raised its stake in Peapack-Gladstone Financial by 11.5% in the 3rd quarter. ClariVest Asset Management LLC now owns 204,960 shares of the financial services provider’s stock worth $6,915,000 after purchasing an additional 21,154 shares in the last quarter. 69.59% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on PGC. BidaskClub cut shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $38.50 price objective on shares of Peapack-Gladstone Financial in a research note on Thursday, October 26th. Finally, ValuEngine cut shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th.

Shares of Peapack-Gladstone Financial Corp (NASDAQ:PGC) opened at $36.88 on Friday. Peapack-Gladstone Financial Corp has a 12 month low of $28.24 and a 12 month high of $38.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.26. The firm has a market cap of $663.74, a PE ratio of 19.41 and a beta of 0.99.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Friday, October 27th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. Peapack-Gladstone Financial had a net margin of 20.36% and a return on equity of 9.54%. The business had revenue of $38.82 million during the quarter.

In other news, Director James R. Lamb sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $35.30, for a total value of $35,300.00. Following the completion of the transaction, the director now directly owns 21,756 shares in the company, valued at approximately $767,986.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 2,060 shares of company stock valued at $72,378 over the last 90 days. Corporate insiders own 5.89% of the company’s stock.

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Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

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Institutional Ownership by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

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