WBI Investments Inc. acquired a new position in Peapack-Gladstone Financial Corporation (NASDAQ:PGC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,769 shares of the financial services provider’s stock, valued at approximately $525,000. WBI Investments Inc. owned 0.10% of Peapack-Gladstone Financial Corporation at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. ClariVest Asset Management LLC lifted its stake in shares of Peapack-Gladstone Financial Corporation by 68.2% in the second quarter. ClariVest Asset Management LLC now owns 183,806 shares of the financial services provider’s stock worth $5,751,000 after acquiring an additional 74,539 shares during the period. Martingale Asset Management L P lifted its stake in shares of Peapack-Gladstone Financial Corporation by 20.0% in the second quarter. Martingale Asset Management L P now owns 103,137 shares of the financial services provider’s stock worth $3,228,000 after acquiring an additional 17,203 shares during the period. Boston Partners lifted its stake in shares of Peapack-Gladstone Financial Corporation by 13.7% in the second quarter. Boston Partners now owns 98,900 shares of the financial services provider’s stock worth $3,095,000 after acquiring an additional 11,900 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Peapack-Gladstone Financial Corporation by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 93,893 shares of the financial services provider’s stock worth $2,938,000 after acquiring an additional 3,984 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of Peapack-Gladstone Financial Corporation by 50.0% in the second quarter. Prudential Financial Inc. now owns 88,229 shares of the financial services provider’s stock worth $2,761,000 after acquiring an additional 29,420 shares during the period. 67.86% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another website, it was copied illegally and republished in violation of United States and international copyright & trademark law. The original version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/16/16769-shares-in-peapack-gladstone-financial-corporation-pgc-purchased-by-wbi-investments-inc.html.

A number of research firms recently commented on PGC. Keefe, Bruyette & Woods began coverage on Peapack-Gladstone Financial Corporation in a research note on Monday, July 17th. They issued an “outperform” rating and a $38.00 price objective on the stock. BidaskClub raised Peapack-Gladstone Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday. Finally, ValuEngine raised Peapack-Gladstone Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Peapack-Gladstone Financial Corporation currently has a consensus rating of “Buy” and an average price target of $32.00.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) opened at 32.02 on Friday. Peapack-Gladstone Financial Corporation has a 52 week low of $20.29 and a 52 week high of $33.68. The firm has a 50-day moving average price of $30.63 and a 200 day moving average price of $30.82. The firm has a market capitalization of $557.24 million, a price-to-earnings ratio of 18.10 and a beta of 1.05.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) last posted its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. Peapack-Gladstone Financial Corporation had a return on equity of 9.12% and a net margin of 19.54%. The business had revenue of $35.14 million for the quarter. On average, equities research analysts forecast that Peapack-Gladstone Financial Corporation will post $1.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 7th. This represents a $0.20 annualized dividend and a yield of 0.62%. Peapack-Gladstone Financial Corporation’s payout ratio is 11.30%.

Peapack-Gladstone Financial Corporation Profile

Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

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

Receive News & Stock Ratings for Peapack-Gladstone Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peapack-Gladstone Financial Corporation and related stocks with our FREE daily email newsletter.