Jacobs Levy Equity Management Inc. raised its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 47.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 58,204 shares of the financial services provider’s stock after buying an additional 18,781 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.31% of Peapack-Gladstone Financial worth $1,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in shares of Peapack-Gladstone Financial by 14.8% in the 4th quarter. Acadian Asset Management LLC now owns 73,877 shares of the financial services provider’s stock valued at $2,283,000 after purchasing an additional 9,518 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Peapack-Gladstone Financial by 16.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 237,948 shares of the financial services provider’s stock valued at $7,353,000 after purchasing an additional 33,440 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Peapack-Gladstone Financial in the 3rd quarter valued at about $47,000. First Trust Advisors LP increased its stake in shares of Peapack-Gladstone Financial by 12.1% in the 3rd quarter. First Trust Advisors LP now owns 48,388 shares of the financial services provider’s stock valued at $1,356,000 after purchasing an additional 5,242 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Peapack-Gladstone Financial by 3.1% in the 3rd quarter. State Street Corp now owns 404,993 shares of the financial services provider’s stock valued at $11,352,000 after purchasing an additional 12,189 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.

PGC has been the subject of several recent analyst reports. Zacks Investment Research lowered Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered Peapack-Gladstone Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, March 13th. DA Davidson upgraded Peapack-Gladstone Financial from a “neutral” rating to a “buy” rating and set a $33.50 price target for the company in a research note on Thursday, January 30th. Janney Montgomery Scott upgraded Peapack-Gladstone Financial from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, ValuEngine upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.25.

In related news, CEO Douglas L. Kennedy bought 2,000 shares of the stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $15.87 per share, for a total transaction of $31,740.00. Also, Director F Duffield Meyercord bought 10,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $14.39 per share, for a total transaction of $143,900.00. Following the completion of the acquisition, the director now owns 1,400 shares in the company, valued at $20,146. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 13,990 shares of company stock valued at $214,113. 4.49% of the stock is owned by company insiders.

NASDAQ:PGC opened at $14.80 on Thursday. Peapack-Gladstone Financial Co. has a 12 month low of $11.15 and a 12 month high of $31.72. The stock has a 50 day moving average of $25.80 and a two-hundred day moving average of $28.54. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The firm has a market cap of $270.12 million, a P/E ratio of 6.07, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Peapack-Gladstone Financial had a return on equity of 9.61% and a net margin of 20.15%. The company had revenue of $46.44 million during the quarter, compared to analyst estimates of $46.36 million. On average, research analysts forecast that Peapack-Gladstone Financial Co. will post 2.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 1.35%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 8.20%.

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.

Featured Story: How are capital gains distributions different for tax-deferred account?

Want to see what other hedge funds are holding PGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Peapack-Gladstone Financial Co. (NASDAQ:PGC).

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

Receive News & Ratings for Peapack-Gladstone Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peapack-Gladstone Financial and related companies with MarketBeat.com's FREE daily email newsletter.