BidaskClub lowered shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) from a hold rating to a sell rating in a research note published on Saturday.

PGC has been the topic of a number of other research reports. ValuEngine raised Peapack-Gladstone Financial Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Hovde Group started coverage on Peapack-Gladstone Financial Corporation in a report on Thursday, April 13th. They issued an outperform rating and a $33.00 target price on the stock. Finally, Keefe, Bruyette & Woods started coverage on Peapack-Gladstone Financial Corporation in a research report on Monday, July 17th. They issued an outperform rating and a $38.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $32.00.

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) traded up 0.45% during midday trading on Friday, reaching $31.43. The company had a trading volume of 64,505 shares. Peapack-Gladstone Financial Corporation has a 1-year low of $19.63 and a 1-year high of $33.68. The stock has a market capitalization of $550.18 million, a PE ratio of 17.77 and a beta of 1.03. The company’s 50-day moving average is $31.79 and its 200-day moving average is $31.02.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last posted its earnings results on Friday, July 28th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Peapack-Gladstone Financial Corporation had a return on equity of 9.35% and a net margin of 19.54%. The company had revenue of $35.14 million for the quarter. On average, equities research analysts forecast that Peapack-Gladstone Financial Corporation will post $1.82 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, August 7th. Peapack-Gladstone Financial Corporation’s payout ratio is 11.30%.

Hedge funds have recently modified their holdings of the company. ClariVest Asset Management LLC boosted its stake in shares of Peapack-Gladstone Financial Corporation by 68.2% in the second quarter. ClariVest Asset Management LLC now owns 183,806 shares of the financial services provider’s stock worth $5,751,000 after buying an additional 74,539 shares during the last quarter. Boston Partners boosted its stake in shares of Peapack-Gladstone Financial Corporation by 13.7% in the second quarter. Boston Partners now owns 98,900 shares of the financial services provider’s stock worth $3,095,000 after buying an additional 11,900 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Peapack-Gladstone Financial Corporation by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 93,893 shares of the financial services provider’s stock worth $2,938,000 after buying an additional 3,984 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Peapack-Gladstone Financial Corporation by 1.7% in the second quarter. Russell Investments Group Ltd. now owns 65,047 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 1,094 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Peapack-Gladstone Financial Corporation by 21.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 58,757 shares of the financial services provider’s stock worth $1,839,000 after buying an additional 10,294 shares during the last quarter. Institutional investors and hedge funds own 66.21% of the company’s stock.

About Peapack-Gladstone Financial Corporation

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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