Engineers Gate Manager LP boosted its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 25.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,955 shares of the financial services provider’s stock after buying an additional 4,903 shares during the quarter. Engineers Gate Manager LP’s holdings in Peapack-Gladstone Financial were worth $430,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its stake in Peapack-Gladstone Financial by 16.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 237,948 shares of the financial services provider’s stock worth $7,353,000 after buying an additional 33,440 shares during the period. Gamco Investors INC. ET AL boosted its stake in Peapack-Gladstone Financial by 17.2% during the first quarter. Gamco Investors INC. ET AL now owns 19,100 shares of the financial services provider’s stock worth $343,000 after buying an additional 2,800 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Peapack-Gladstone Financial by 161.8% during the first quarter. BNP Paribas Arbitrage SA now owns 5,835 shares of the financial services provider’s stock worth $105,000 after buying an additional 3,606 shares during the period. AQR Capital Management LLC boosted its stake in Peapack-Gladstone Financial by 115.6% during the fourth quarter. AQR Capital Management LLC now owns 53,458 shares of the financial services provider’s stock worth $1,652,000 after buying an additional 28,665 shares during the period. Finally, Bank of Montreal Can boosted its stake in Peapack-Gladstone Financial by 147.3% during the fourth quarter. Bank of Montreal Can now owns 146,582 shares of the financial services provider’s stock worth $4,530,000 after buying an additional 87,300 shares during the period. 67.12% of the stock is owned by institutional investors.

Several research analysts have weighed in on the stock. BidaskClub lowered shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 15th. ValuEngine lowered shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Piper Sandler raised shares of Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 12th. Finally, Zacks Investment Research lowered shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Peapack-Gladstone Financial currently has a consensus rating of “Hold” and a consensus target price of $33.25.

NASDAQ PGC opened at $18.21 on Tuesday. The firm has a 50 day simple moving average of $18.19 and a 200-day simple moving average of $23.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.04 and a current ratio of 1.04. Peapack-Gladstone Financial Co. has a one year low of $11.15 and a one year high of $31.72. The firm has a market cap of $317.29 million, a price-to-earnings ratio of 9.44, a PEG ratio of 3.86 and a beta of 1.16.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.47). The business had revenue of $46.26 million during the quarter, compared to analysts’ expectations of $45.41 million. Peapack-Gladstone Financial had a net margin of 15.64% and a return on equity of 7.52%. Equities analysts predict that Peapack-Gladstone Financial Co. will post 1.36 EPS for the current fiscal year.

Peapack-Gladstone Financial 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.

Recommended Story: Mutual funds are not immune from market timing

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.