Marshall Wace North America L.P. purchased a new position in shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,610 shares of the financial services provider’s stock, valued at approximately $267,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in 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 valued at $2,035,000 after purchasing an additional 1,094 shares during the period. Rhumbline Advisers grew its holdings in Peapack-Gladstone Financial Corporation by 10.4% in the second quarter. Rhumbline Advisers now owns 19,153 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 1,800 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 valued at $2,938,000 after purchasing an additional 3,984 shares during the period. Bessemer Group Inc. grew its holdings in Peapack-Gladstone Financial Corporation by 36.4% in the second quarter. Bessemer Group Inc. now owns 26,600 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 7,100 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Peapack-Gladstone Financial Corporation in the second quarter valued at approximately $304,000. Institutional investors and hedge funds own 67.86% of the company’s stock.

Shares of Peapack-Gladstone Financial Corporation (PGC) opened at 32.02 on Friday. The stock has a market capitalization of $557.24 million, a P/E ratio of 18.10 and a beta of 1.05. Peapack-Gladstone Financial Corporation has a 12-month low of $20.29 and a 12-month high of $33.68. The company has a 50-day moving average of $30.63 and a 200-day moving average of $30.82.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last issued 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. The company had revenue of $35.14 million for the quarter. Peapack-Gladstone Financial Corporation had a return on equity of 9.12% and a net margin of 19.54%. Equities analysts expect that Peapack-Gladstone Financial Corporation will post $1.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a $0.05 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. Peapack-Gladstone Financial Corporation’s dividend payout ratio is 11.30%.

A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Peapack-Gladstone Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday. Keefe, Bruyette & Woods assumed coverage on shares of Peapack-Gladstone Financial Corporation in a report on Monday, July 17th. They issued an “outperform” rating and a $38.00 target price for the company. Finally, ValuEngine upgraded shares of Peapack-Gladstone Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Peapack-Gladstone Financial Corporation currently has a consensus rating of “Buy” and an average price target of $32.00.

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Peapack-Gladstone Financial Corporation 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.

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

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