Insider Selling: Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Sells $96,870.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 3,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $32.29, for a total transaction of $96,870.00. Following the completion of the sale, the executive vice president now owns 49,155 shares in the company, valued at $1,587,214.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock opened at $36.28 on Friday. The company has a fifty day moving average price of $28.94 and a two-hundred day moving average price of $25.67. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88. The stock has a market cap of $641.43 million, a P/E ratio of 20.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $102.14 million during the quarter, compared to analysts’ expectations of $58.24 million. Peapack-Gladstone Financial had a return on equity of 5.60% and a net margin of 8.12%. As a group, equities analysts predict that Peapack-Gladstone Financial Co. will post 1.82 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 7th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, November 7th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is presently 11.05%.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Several hedge funds have recently added to or reduced their stakes in PGC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Peapack-Gladstone Financial by 68.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,324 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 1,350 shares during the period. BNP Paribas Financial Markets boosted its stake in Peapack-Gladstone Financial by 90.4% in the 1st quarter. BNP Paribas Financial Markets now owns 8,399 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 3,987 shares during the period. Algert Global LLC bought a new stake in Peapack-Gladstone Financial in the 2nd quarter valued at $209,000. Sei Investments Co. acquired a new position in Peapack-Gladstone Financial in the 2nd quarter valued at $214,000. Finally, Cubist Systematic Strategies LLC bought a new position in Peapack-Gladstone Financial during the 2nd quarter worth $223,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PGC shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $32.00 price target (up from $28.00) on shares of Peapack-Gladstone Financial in a research report on Monday, July 29th. Piper Sandler upgraded Peapack-Gladstone Financial from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $35.00 in a report on Wednesday, October 23rd.

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.