Maltese Capital Management LLC purchased a new stake in shares of Peapack-Gladstone Financial Corp (NASDAQ:PGC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the financial services provider’s stock, valued at approximately $337,000. Maltese Capital Management LLC owned approximately 0.05% of Peapack-Gladstone Financial at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Peapack-Gladstone Financial by 8.3% during the third quarter. Dimensional Fund Advisors LP now owns 684,193 shares of the financial services provider’s stock valued at $23,085,000 after purchasing an additional 52,531 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of Peapack-Gladstone Financial by 0.3% during the second quarter. Peapack Gladstone Financial Corp now owns 678,134 shares of the financial services provider’s stock valued at $21,219,000 after purchasing an additional 2,232 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Peapack-Gladstone Financial by 5.3% during the second quarter. Vanguard Group Inc. now owns 602,497 shares of the financial services provider’s stock valued at $18,851,000 after purchasing an additional 30,450 shares in the last quarter. State Street Corp lifted its position in shares of Peapack-Gladstone Financial by 12.7% during the second quarter. State Street Corp now owns 266,486 shares of the financial services provider’s stock valued at $8,337,000 after purchasing an additional 29,948 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Peapack-Gladstone Financial by 13.9% during the second quarter. Northern Trust Corp now owns 218,831 shares of the financial services provider’s stock valued at $6,847,000 after purchasing an additional 26,757 shares in the last quarter. 69.48% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on PGC shares. ValuEngine lowered shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. BidaskClub upgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $38.50 price objective on shares of Peapack-Gladstone Financial in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.75.
Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Friday, October 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. Peapack-Gladstone Financial had a net margin of 20.36% and a return on equity of 9.54%. The business had revenue of $38.82 million during the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Thursday, November 9th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 10.53%.
In related news, Director James R. Lamb sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $35.30, for a total transaction of $35,300.00. Following the completion of the sale, the director now owns 21,756 shares in the company, valued at $767,986.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.89% of the company’s stock.
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Peapack-Gladstone Financial Company 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.
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