Bank of Montreal Can Has $1.43 Million Holdings in Peapack-Gladstone Financial Co. (PGC)

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Bank of Montreal Can boosted its position in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,626 shares of the financial services provider’s stock after purchasing an additional 5,401 shares during the period. Bank of Montreal Can’s holdings in Peapack-Gladstone Financial were worth $1,426,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Peapack-Gladstone Financial by 1.7% in the 3rd quarter. BlackRock Inc. now owns 1,199,738 shares of the financial services provider’s stock valued at $37,061,000 after acquiring an additional 19,669 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Peapack-Gladstone Financial by 8.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,042,789 shares of the financial services provider’s stock valued at $32,212,000 after acquiring an additional 83,194 shares during the period. Vanguard Group Inc. raised its stake in shares of Peapack-Gladstone Financial by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 766,829 shares of the financial services provider’s stock valued at $23,686,000 after acquiring an additional 6,322 shares during the period. Vanguard Group Inc raised its stake in shares of Peapack-Gladstone Financial by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 766,829 shares of the financial services provider’s stock valued at $23,686,000 after acquiring an additional 6,322 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Peapack-Gladstone Financial by 114.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 479,856 shares of the financial services provider’s stock valued at $14,822,000 after acquiring an additional 256,156 shares during the period. 70.47% of the stock is currently owned by institutional investors.

Shares of PGC stock opened at $28.37 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $524.29 million, a P/E ratio of 12.28 and a beta of 1.02. Peapack-Gladstone Financial Co. has a fifty-two week low of $23.96 and a fifty-two week high of $36.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Friday, January 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $40.64 million during the quarter, compared to analyst estimates of $41.58 million. Peapack-Gladstone Financial had a net margin of 21.67% and a return on equity of 10.09%. As a group, research analysts predict that Peapack-Gladstone Financial Co. will post 2.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Thursday, February 7th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Wednesday, February 6th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 8.66%.

A number of equities research analysts have recently issued reports on PGC shares. BidaskClub raised shares of Peapack-Gladstone Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 25th. FIG Partners downgraded shares of Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, January 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $36.00 price target on shares of Peapack-Gladstone Financial in a research note on Wednesday, October 31st. Zacks Investment Research raised shares of Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Finally, Gabelli started coverage on shares of Peapack-Gladstone Financial in a research note on Monday. They issued a “buy” rating and a $37.00 price target on the stock. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $36.50.

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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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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

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