Peapack-Gladstone Financial (NASDAQ:PGC) Share Price Crosses Below Two Hundred Day Moving Average of $25.60

Peapack-Gladstone Financial Co. (NASDAQ:PGC)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.60 and traded as low as $23.98. Peapack-Gladstone Financial shares last traded at $24.50, with a volume of 103,685 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TheStreet downgraded Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research report on Friday, February 23rd. Keefe, Bruyette & Woods cut their price objective on Peapack-Gladstone Financial from $33.50 to $30.50 and set an “outperform” rating for the company in a research report on Friday, April 5th. Finally, Piper Sandler cut Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a report on Wednesday.

Peapack-Gladstone Financial Stock Down 8.6 %

The business has a fifty day moving average of $23.68 and a 200 day moving average of $25.58. The company has a market capitalization of $406.12 million, a PE ratio of 8.44 and a beta of 0.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). The company had revenue of $54.27 million during the quarter, compared to analysts’ expectations of $54.91 million. Peapack-Gladstone Financial had a net margin of 12.94% and a return on equity of 9.03%. Equities research analysts anticipate that Peapack-Gladstone Financial Co. will post 2.21 EPS for the current year.

Insider Buying and Selling

In related news, EVP Gregory Martin Smith sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $30.02, for a total transaction of $135,090.00. Following the completion of the sale, the executive vice president now owns 15,703 shares in the company, valued at $471,404.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PGC. Assenagon Asset Management S.A. lifted its stake in Peapack-Gladstone Financial by 212.5% in the first quarter. Assenagon Asset Management S.A. now owns 31,390 shares of the financial services provider’s stock valued at $764,000 after buying an additional 21,345 shares during the last quarter. Denali Advisors LLC purchased a new stake in Peapack-Gladstone Financial in the first quarter valued at approximately $204,000. Wellington Management Group LLP lifted its stake in Peapack-Gladstone Financial by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 564,178 shares of the financial services provider’s stock valued at $16,824,000 after buying an additional 24,083 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new stake in Peapack-Gladstone Financial in the fourth quarter valued at approximately $4,590,000. Finally, Peapack Gladstone Financial Corp lifted its stake in Peapack-Gladstone Financial by 1.4% in the fourth quarter. Peapack Gladstone Financial Corp now owns 916,250 shares of the financial services provider’s stock valued at $27,322,000 after buying an additional 12,976 shares during the last quarter. 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.