Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Eric H. Waser sold 1,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.47, for a total transaction of $42,705.00. Following the sale, the executive vice president now owns 16,941 shares in the company, valued at approximately $482,310.27. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Peapack-Gladstone Financial stock traded up $0.87 during mid-day trading on Monday, reaching $28.90. The stock had a trading volume of 63,400 shares, compared to its average volume of 64,068. The company has a market capitalization of $544.58 million, a price-to-earnings ratio of 12.51, a PEG ratio of 2.07 and a beta of 0.98. The company has a 50-day moving average price of $28.14 and a two-hundred day moving average price of $27.88. Peapack-Gladstone Financial Co. has a one year low of $23.96 and a one year high of $30.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.05 and a quick ratio of 1.05.
Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $44.50 million during the quarter, compared to the consensus estimate of $44.07 million. Peapack-Gladstone Financial had a return on equity of 9.36% and a net margin of 20.28%. On average, equities research analysts anticipate that Peapack-Gladstone Financial Co. will post 2.38 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of PGC. JPMorgan Chase & Co. raised its position in Peapack-Gladstone Financial by 14.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,194 shares of the financial services provider’s stock worth $144,000 after buying an additional 646 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new position in Peapack-Gladstone Financial in the 2nd quarter worth about $146,000. Susquehanna International Group LLP purchased a new position in Peapack-Gladstone Financial in the 2nd quarter worth about $202,000. Creative Planning purchased a new position in Peapack-Gladstone Financial in the 2nd quarter worth about $207,000. Finally, Pitcairn Co. purchased a new position in Peapack-Gladstone Financial in the 2nd quarter worth about $295,000. 72.64% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded shares of Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $36.50.
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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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