Peapack-Gladstone Financial Corporation (NASDAQ:PGC – Get Free Report) EVP Gregory Martin Smith sold 1,250 shares of Peapack-Gladstone Financial stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $44.66, for a total value of $55,825.00. Following the completion of the sale, the executive vice president directly owned 12,622 shares of the company’s stock, valued at $563,698.52. The trade was a 9.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Peapack-Gladstone Financial Trading Up 1.4%
PGC stock traded up $0.65 during trading on Thursday, reaching $46.09. The stock had a trading volume of 21,185 shares, compared to its average volume of 151,197. The firm has a market cap of $817.18 million, a PE ratio of 15.93 and a beta of 0.70. The stock’s 50 day moving average is $46.21 and its two-hundred day moving average is $41.60. Peapack-Gladstone Financial Corporation has a 52 week low of $24.71 and a 52 week high of $49.14.
Peapack-Gladstone Financial (NASDAQ:PGC – Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.03). Peapack-Gladstone Financial had a net margin of 11.09% and a return on equity of 7.82%. The firm had revenue of $86.05 million for the quarter, compared to the consensus estimate of $85.17 million. On average, research analysts anticipate that Peapack-Gladstone Financial Corporation will post 3.58 EPS for the current year.
Peapack-Gladstone Financial Announces Dividend
Institutional Investors Weigh In On Peapack-Gladstone Financial
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Peapack-Gladstone Financial by 40.4% during the 1st quarter. Royal Bank of Canada now owns 10,675 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 3,070 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Peapack-Gladstone Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 390 shares during the period. Empowered Funds LLC increased its stake in shares of Peapack-Gladstone Financial by 8.5% in the first quarter. Empowered Funds LLC now owns 55,450 shares of the financial services provider’s stock worth $1,575,000 after purchasing an additional 4,329 shares in the last quarter. Jane Street Group LLC raised its position in shares of Peapack-Gladstone Financial by 119.7% during the 1st quarter. Jane Street Group LLC now owns 52,173 shares of the financial services provider’s stock valued at $1,482,000 after purchasing an additional 28,428 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Peapack-Gladstone Financial by 13.9% during the 2nd quarter. Legal & General Group Plc now owns 15,898 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 1,945 shares during the period. 72.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Zacks Research downgraded shares of Peapack-Gladstone Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Peapack-Gladstone Financial in a research report on Friday, August 7th. Keefe, Bruyette & Woods restated a “moderate buy” rating and issued a $56.00 price objective (up from $55.00) on shares of Peapack-Gladstone Financial in a research note on Monday, August 3rd. Raymond James Financial raised their target price on Peapack-Gladstone Financial from $49.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen downgraded Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Peapack-Gladstone Financial presently has an average rating of “Buy” and a consensus target price of $56.33.
View Our Latest Research Report on Peapack-Gladstone Financial
Peapack-Gladstone Financial Company Profile
Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.
Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.
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