Hotchkis & Wiley Capital Management LLC Decreases Stock Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Hotchkis & Wiley Capital Management LLC lessened its stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,840 shares of the financial services provider's stock after selling 28,180 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 1.42% of Peapack-Gladstone Financial worth $6,848,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PGC. Vanguard Group Inc. grew its stake in Peapack-Gladstone Financial by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider's stock valued at $21,972,000 after buying an additional 9,991 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Peapack-Gladstone Financial by 5.8% during the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Peapack-Gladstone Financial by 68.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,350 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Peapack-Gladstone Financial during the 2nd quarter valued at about $1,444,000. Finally, Quest Partners LLC grew its holdings in Peapack-Gladstone Financial by 150.0% during the 2nd quarter. Quest Partners LLC now owns 15,745 shares of the financial services provider's stock valued at $357,000 after buying an additional 9,446 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company's stock.

Peapack-Gladstone Financial Price Performance

Shares of NASDAQ:PGC traded up $0.02 during trading on Friday, reaching $36.41. The company had a trading volume of 44,608 shares, compared to its average volume of 97,141. The company has a fifty day moving average of $32.67 and a two-hundred day moving average of $27.50. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $640.09 million, a P/E ratio of 20.08 and a beta of 0.98. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $102.14 million for the quarter, compared to analysts' expectations of $58.24 million. Equities research analysts forecast that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date was Thursday, November 7th. Peapack-Gladstone Financial's dividend payout ratio is currently 11.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday. Piper Sandler raised shares of Peapack-Gladstone Financial from a "neutral" rating to an "overweight" rating and raised their price target for the company from $30.00 to $35.00 in a report on Wednesday, October 23rd.

Insider Buying and Selling at Peapack-Gladstone Financial

In other news, EVP John P. Babcock sold 3,000 shares of Peapack-Gladstone Financial stock in a transaction dated 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. The trade was a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.63% of the company's stock.

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