Boston Partners Has $22.39 Million Stock Position in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Boston Partners raised its stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 816,694 shares of the financial services provider’s stock after purchasing an additional 42,469 shares during the quarter. Boston Partners owned 4.53% of Peapack-Gladstone Financial worth $22,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Peapack-Gladstone Financial by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,323,316 shares of the financial services provider’s stock valued at $39,196,000 after purchasing an additional 11,311 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of Peapack-Gladstone Financial by 0.8% in the first quarter. Peapack Gladstone Financial Corp now owns 917,843 shares of the financial services provider’s stock valued at $27,209,000 after acquiring an additional 7,350 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Peapack-Gladstone Financial by 4.5% in the third quarter. Vanguard Group Inc. now owns 856,769 shares of the financial services provider’s stock valued at $28,830,000 after acquiring an additional 37,005 shares during the last quarter. State Street Corp raised its stake in shares of Peapack-Gladstone Financial by 2.3% in the first quarter. State Street Corp now owns 456,484 shares of the financial services provider’s stock valued at $15,863,000 after acquiring an additional 10,273 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Peapack-Gladstone Financial by 13.3% in the first quarter. JPMorgan Chase & Co. now owns 407,495 shares of the financial services provider’s stock valued at $12,070,000 after acquiring an additional 47,771 shares during the last quarter. 73.02% of the stock is owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Stock Performance

PGC stock opened at $25.87 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50 day moving average price of $25.25 and a 200 day moving average price of $26.88. Peapack-Gladstone Financial Co. has a fifty-two week low of $21.58 and a fifty-two week high of $41.61. The stock has a market capitalization of $460.98 million, a PE ratio of 7.72 and a beta of 1.03.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.11). Peapack-Gladstone Financial had a return on equity of 11.33% and a net margin of 16.86%. The company had revenue of $55.87 million during the quarter, compared to the consensus estimate of $54.88 million. Analysts forecast that Peapack-Gladstone Financial Co. will post 2.98 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 9th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, November 8th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 5.97%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Peapack-Gladstone Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.