Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Sells $287,600.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 10,000 shares of Peapack-Gladstone Financial stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total value of $287,600.00. Following the completion of the sale, the executive vice president now directly owns 39,155 shares in the company, valued at $1,126,097.80. This represents a 20.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Peapack-Gladstone Financial Stock Up 0.5 %

NASDAQ:PGC traded up $0.14 on Thursday, hitting $29.42. 38,501 shares of the company’s stock were exchanged, compared to its average volume of 94,249. The company has a market cap of $517.59 million, a P/E ratio of 15.89 and a beta of 1.00. The firm has a 50-day moving average price of $31.88 and a 200-day moving average price of $31.76. 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 Co. has a 52 week low of $20.30 and a 52 week high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. As a group, analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Institutional investors have recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. bought a new position in shares of Peapack-Gladstone Financial in the 4th quarter valued at about $7,928,000. Assenagon Asset Management S.A. acquired a new stake in Peapack-Gladstone Financial in the 4th quarter valued at about $3,590,000. Vanguard Group Inc. grew its holdings in Peapack-Gladstone Financial by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider’s stock worth $30,037,000 after purchasing an additional 62,803 shares during the period. JPMorgan Chase & Co. increased its position in Peapack-Gladstone Financial by 37.5% during the fourth quarter. JPMorgan Chase & Co. now owns 202,865 shares of the financial services provider’s stock worth $6,502,000 after buying an additional 55,363 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Peapack-Gladstone Financial by 11.6% in the fourth quarter. American Century Companies Inc. now owns 339,148 shares of the financial services provider’s stock valued at $10,870,000 after buying an additional 35,159 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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.