Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock Sells 10,000 Shares of Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $26.89, for a total transaction of $268,900.00. Following the completion of the sale, the executive vice president now owns 52,155 shares of the company’s stock, valued at approximately $1,402,447.95. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Peapack-Gladstone Financial Trading Down 2.1 %

NASDAQ:PGC opened at $26.30 on Friday. The stock has a market cap of $467.25 million, a PE ratio of 12.06 and a beta of 0.99. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $30.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $25.93 and its two-hundred day moving average is $23.99.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Peapack-Gladstone Financial had a net margin of 8.50% and a return on equity of 5.91%. The firm had revenue of $100.79 million for the quarter, compared to the consensus estimate of $56.80 million. As a group, equities research analysts forecast that Peapack-Gladstone Financial Co. will post 1.68 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, August 8th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 9.17%.

Institutional Trading of Peapack-Gladstone Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Peapack-Gladstone Financial by 68.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,350 shares during the last quarter. Quest Partners LLC acquired a new position in Peapack-Gladstone Financial in the fourth quarter worth approximately $77,000. BNP Paribas Financial Markets raised its position in Peapack-Gladstone Financial by 90.4% during the first quarter. BNP Paribas Financial Markets now owns 8,399 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 3,987 shares in the last quarter. Denali Advisors LLC acquired a new stake in Peapack-Gladstone Financial in the first quarter valued at approximately $204,000. Finally, Algert Global LLC acquired a new stake in Peapack-Gladstone Financial in the second quarter valued at approximately $209,000. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $32.00 target price (up previously from $28.00) on shares of Peapack-Gladstone Financial in a report on Monday, July 29th.

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.