Peapack-Gladstone Financial (NASDAQ:PGC) Hits New 1-Year High – Time to Buy?

Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) reached a new 52-week high on Tuesday . The company traded as high as $30.70 and last traded at $30.70, with a volume of 20733 shares trading hands. The stock had previously closed at $29.30.

Analyst Ratings Changes

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

Peapack-Gladstone Financial Trading Up 1.3 %

The business has a 50 day moving average of $27.13 and a two-hundred day moving average of $24.73. The firm has a market cap of $544.17 million, a P/E ratio of 14.05 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 earnings results on Tuesday, July 23rd. The financial services provider reported $0.42 earnings per share (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 company had revenue of $100.79 million during the quarter, compared to analysts’ expectations of $56.80 million. Analysts predict that Peapack-Gladstone Financial Co. will post 1.75 earnings per share for the current year.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP John P. Babcock sold 10,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $26.89, for a total value of $268,900.00. Following the completion of the sale, the executive vice president now directly owns 52,155 shares in the company, valued at $1,402,447.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in Peapack-Gladstone Financial during the 2nd quarter worth approximately $1,444,000. American Century Companies Inc. raised its stake in shares of Peapack-Gladstone Financial by 15.3% during the second quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider’s stock valued at $6,242,000 after acquiring an additional 36,564 shares during the last quarter. AQR Capital Management LLC raised its position in Peapack-Gladstone Financial by 45.6% during the 2nd quarter. AQR Capital Management LLC now owns 95,930 shares of the financial services provider’s stock valued at $2,173,000 after purchasing an additional 30,031 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Peapack-Gladstone Financial in the second quarter worth $626,000. Finally, Wellington Management Group LLP lifted its position in shares of Peapack-Gladstone Financial by 4.5% in the 4th quarter. Wellington Management Group LLP now owns 564,178 shares of the financial services provider’s stock worth $16,824,000 after purchasing an additional 24,083 shares during the period. Institutional investors 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.