Insider Selling: Peapack-Gladstone Financial (NASDAQ:PGC) EVP Sells $52,360.00 in Stock

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Lisa Chalkan sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $47.60, for a total transaction of $52,360.00. Following the completion of the transaction, the executive vice president owned 26,075 shares in the company, valued at approximately $1,241,170. This represents a 4.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Peapack-Gladstone Financial Stock Performance

Shares of PGC traded down $0.47 on Tuesday, hitting $47.16. 13,343 shares of the stock traded hands, compared to its average volume of 133,288. The company has a market capitalization of $835.76 million, a PE ratio of 19.02 and a beta of 0.72. The business has a 50 day simple moving average of $43.23 and a 200 day simple moving average of $36.29. Peapack-Gladstone Financial Corporation has a one year low of $24.42 and a one year high of $48.31.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.14. Peapack-Gladstone Financial had a return on equity of 6.75% and a net margin of 9.60%.The business had revenue of $82.49 million for the quarter, compared to analysts’ expectations of $79.17 million. On average, equities analysts expect that Peapack-Gladstone Financial Corporation will post 3.76 earnings per share for the current year.

Institutional Trading of Peapack-Gladstone Financial

Several large investors have recently added to or reduced their stakes in PGC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Peapack-Gladstone Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 390 shares in the last quarter. Azora Capital LP lifted its holdings in Peapack-Gladstone Financial by 4.1% in the 4th quarter. Azora Capital LP now owns 11,058 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 431 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Peapack-Gladstone Financial by 0.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 65,766 shares of the financial services provider’s stock worth $1,832,000 after purchasing an additional 500 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Peapack-Gladstone Financial by 3.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 16,405 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 526 shares during the period. Finally, Royal Bank of Canada boosted its stake in Peapack-Gladstone Financial by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,252 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 529 shares during the period. 72.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PGC shares. Zacks Research upgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “strong-buy” rating in a research note on Friday. Piper Sandler raised their target price on shares of Peapack-Gladstone Financial from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Weiss Ratings raised shares of Peapack-Gladstone Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $47.00.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.