Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Sells $142,900.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 5,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $28.58, for a total transaction of $142,900.00. Following the completion of the transaction, the chief executive officer now directly owns 35,409 shares of the company’s stock, valued at $1,011,989.22. This trade represents a 12.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Peapack-Gladstone Financial Stock Up 0.7 %

Shares of NASDAQ PGC opened at $29.25 on Thursday. The business has a fifty day moving average of $31.42 and a two-hundred day moving average of $31.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. Peapack-Gladstone Financial Co. has a 52-week low of $20.30 and a 52-week high of $37.88. The stock has a market cap of $514.68 million, a PE ratio of 15.81 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. As a group, equities research analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PGC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Peapack-Gladstone Financial by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,549 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 380 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Peapack-Gladstone Financial by 1.6% in the third quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider’s stock valued at $658,000 after buying an additional 387 shares during the last quarter. Victory Capital Management Inc. lifted its position in Peapack-Gladstone Financial by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider’s stock worth $1,140,000 after buying an additional 567 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Peapack-Gladstone Financial by 1.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 57,485 shares of the financial services provider’s stock worth $1,842,000 after acquiring an additional 750 shares during the last quarter. Finally, Barclays PLC increased its position in Peapack-Gladstone Financial by 2.5% in the 4th quarter. Barclays PLC now owns 34,491 shares of the financial services provider’s stock valued at $1,105,000 after acquiring an additional 835 shares in the last quarter. 72.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About Peapack-Gladstone Financial

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.