Wellington Management Group LLP Has $17.31 Million Holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

Wellington Management Group LLP lifted its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC - Free Report) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 631,645 shares of the financial services provider's stock after acquiring an additional 15,667 shares during the period. Wellington Management Group LLP owned approximately 3.59% of Peapack-Gladstone Financial worth $17,313,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Peapack-Gladstone Financial during the 2nd quarter worth approximately $1,444,000. American Century Companies Inc. lifted its position in shares of Peapack-Gladstone Financial by 15.3% during the second quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider's stock worth $6,242,000 after purchasing an additional 36,564 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Peapack-Gladstone Financial in the third quarter valued at $959,000. AQR Capital Management LLC grew its holdings in Peapack-Gladstone Financial by 45.6% during the 2nd quarter. AQR Capital Management LLC now owns 95,930 shares of the financial services provider's stock valued at $2,173,000 after purchasing an additional 30,031 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Peapack-Gladstone Financial during the 2nd quarter worth $626,000. Hedge funds and other institutional investors own 72.75% of the company's stock.

Peapack-Gladstone Financial Stock Down 0.6 %

NASDAQ PGC traded down $0.22 during trading hours on Friday, reaching $35.37. 94,291 shares of the company traded hands, compared to its average volume of 96,583. The stock has a market capitalization of $621.98 million, a PE ratio of 19.54 and a beta of 0.98. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88. The company has a 50 day moving average of $33.75 and a two-hundred day moving average of $28.08.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. The business had revenue of $102.14 million for the quarter, compared to analysts' expectations of $58.24 million. As a group, equities analysts expect that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were issued a $0.05 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. Peapack-Gladstone Financial's dividend payout ratio (DPR) is 11.05%.

Insider Activity at Peapack-Gladstone Financial

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 3,000 shares of Peapack-Gladstone Financial 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 completion of the transaction, the executive vice president now directly owns 49,155 shares in the company, valued at $1,587,214.95. The trade was a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 7.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upped 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, December 4th. Piper Sandler raised Peapack-Gladstone Financial from a "neutral" rating to an "overweight" rating and increased their price target for the company from $30.00 to $35.00 in a report on Wednesday, October 23rd.

About Peapack-Gladstone Financial

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.