F Duffield Meyercord Acquires 6,316 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director F Duffield Meyercord bought 6,316 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $28.44 per share, for a total transaction of $179,627.04. Following the completion of the transaction, the director now directly owns 140,372 shares in the company, valued at $3,992,179.68. This represents a 4.71 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Peapack-Gladstone Financial Price Performance

Shares of PGC opened at $29.06 on Wednesday. The firm has a market capitalization of $511.34 million, a PE ratio of 15.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $31.48 and its 200-day moving average price is $31.94. Peapack-Gladstone Financial Co. has a 1-year low of $20.30 and a 1-year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. On average, equities research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Analysts Set New Price Targets

Separately, 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 report on Wednesday, December 4th.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Peapack-Gladstone Financial by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider’s stock valued at $35,811,000 after acquiring an additional 10,221 shares during the last quarter. Vanguard Group Inc. lifted its position 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 valued at $30,037,000 after purchasing an additional 62,803 shares during the period. Boston Partners lifted its position in Peapack-Gladstone Financial by 2.3% during the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider’s stock valued at $25,046,000 after purchasing an additional 17,220 shares during the period. Wellington Management Group LLP boosted its holdings in Peapack-Gladstone Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider’s stock valued at $20,975,000 after purchasing an additional 22,805 shares during the last quarter. Finally, State Street Corp grew its position in Peapack-Gladstone Financial by 2.4% during the 3rd quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after purchasing an additional 12,332 shares during the period. Institutional investors and hedge funds own 72.75% 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.