Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Sells $287,600.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total transaction of $287,600.00. Following the completion of the transaction, the executive vice president now owns 39,155 shares in the company, valued at approximately $1,126,097.80. This represents a 20.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Peapack-Gladstone Financial Stock Performance

Shares of PGC traded up $0.14 during midday trading on Thursday, reaching $29.42. 38,501 shares of the stock were exchanged, compared to its average volume of 94,249. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $31.88 and its 200 day simple moving average is $31.76. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88. The company has a market cap of $517.59 million, a P/E ratio of 15.89 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. On average, sell-side analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Institutional Trading of Peapack-Gladstone Financial

A number of institutional investors and hedge funds have recently made changes to their positions in PGC. Dimensional Fund Advisors LP lifted its stake in Peapack-Gladstone Financial by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider’s stock worth $35,811,000 after purchasing an additional 10,221 shares during the last quarter. Vanguard Group Inc. boosted its stake in Peapack-Gladstone Financial by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider’s stock valued at $30,037,000 after buying an additional 62,803 shares in the last quarter. Boston Partners grew its position in Peapack-Gladstone Financial by 2.3% in the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider’s stock valued at $25,046,000 after acquiring an additional 17,220 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Peapack-Gladstone Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider’s stock valued at $20,975,000 after purchasing an additional 22,805 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Peapack-Gladstone Financial by 2.4% during the third quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after buying an additional 12,332 shares in the last quarter. Institutional investors own 72.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price target on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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.