Peapack-Gladstone Financial Co. (PGC) Stake Increased by ClariVest Asset Management LLC

ClariVest Asset Management LLC grew its holdings in Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 5.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 202,824 shares of the financial services provider’s stock after buying an additional 10,575 shares during the quarter. ClariVest Asset Management LLC’s holdings in Peapack-Gladstone Financial were worth $6,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV lifted its holdings in shares of Peapack-Gladstone Financial by 95.8% in the 4th quarter. KBC Group NV now owns 5,483 shares of the financial services provider’s stock valued at $192,000 after buying an additional 2,683 shares during the period. Creative Planning acquired a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at approximately $258,000. MetLife Investment Advisors LLC acquired a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at approximately $291,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at approximately $385,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Peapack-Gladstone Financial in the 1st quarter valued at approximately $461,000. 70.60% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on PGC. BidaskClub raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Hovde Group reissued a “buy” rating and issued a $39.00 price target on shares of Peapack-Gladstone Financial in a report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Peapack-Gladstone Financial in a research note on Monday, February 5th.

NASDAQ PGC opened at $32.92 on Friday. Peapack-Gladstone Financial Co. has a 1-year low of $32.73 and a 1-year high of $32.73. The company has a market capitalization of $618.24 million, a P/E ratio of 15.94 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Friday, April 27th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Peapack-Gladstone Financial had a return on equity of 9.65% and a net margin of 21.58%. The firm had revenue of $38.61 million during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Tuesday, May 8th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, May 7th.

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

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Institutional Ownership by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

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