35,000 Shares in Peapack-Gladstone Financial Co. (NASDAQ:PGC) Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. acquired a new stake in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 35,000 shares of the financial services provider's stock, valued at approximately $959,000. Victory Capital Management Inc. owned 0.20% of Peapack-Gladstone Financial at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Peapack-Gladstone Financial by 1.1% during the first quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider's stock valued at $21,972,000 after purchasing an additional 9,991 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Peapack-Gladstone Financial by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the financial services provider's stock worth $278,000 after purchasing an additional 628 shares during the period. Boston Partners boosted its holdings in Peapack-Gladstone Financial by 1.6% during the first quarter. Boston Partners now owns 762,659 shares of the financial services provider's stock valued at $18,339,000 after acquiring an additional 12,226 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Peapack-Gladstone Financial by 68.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider's stock valued at $75,000 after buying an additional 1,350 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Peapack-Gladstone Financial during the 2nd quarter valued at $1,444,000. Institutional investors own 72.75% of the company's stock.

Peapack-Gladstone Financial Trading Down 1.2 %

Shares of Peapack-Gladstone Financial stock traded down $0.46 during trading hours on Thursday, hitting $36.43. The company's stock had a trading volume of 74,304 shares, compared to its average volume of 97,848. The company has a market capitalization of $640.62 million, a PE ratio of 20.13 and a beta of 0.96. The stock has a 50 day moving average of $31.61 and a 200 day moving average of $27.00. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Peapack-Gladstone Financial had a return on equity of 5.55% and a net margin of 8.12%. The firm had revenue of $102.14 million for the quarter, compared to analyst estimates of $58.24 million. Analysts predict that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. Peapack-Gladstone Financial's dividend payout ratio (DPR) is presently 11.05%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upgraded Peapack-Gladstone Financial from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $30.00 to $35.00 in a research note on Wednesday, October 23rd.

Insider Buying and Selling at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $32.29, for a total value of $96,870.00. Following the transaction, the executive vice president now owns 49,155 shares in the company, valued at approximately $1,587,214.95. This represents a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.63% of the company's stock.

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.