Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy Sells 5,000 Shares

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 5,000 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $28.79, for a total transaction of $143,950.00. Following the completion of the transaction, the chief executive officer now directly owns 40,409 shares of the company’s stock, valued at approximately $1,163,375.11. This trade represents a 11.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Peapack-Gladstone Financial Trading Up 3.2 %

Shares of Peapack-Gladstone Financial stock traded up $0.92 during trading hours on Monday, reaching $29.58. The stock had a trading volume of 75,863 shares, compared to its average volume of 88,378. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 1 year low of $20.30 and a 1 year high of $37.88. The firm has a market capitalization of $520.49 million, a price-to-earnings ratio of 15.99 and a beta of 1.00. The firm has a 50 day simple moving average of $31.84 and a two-hundred day simple moving average of $31.81.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping 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 anticipate that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Peapack-Gladstone Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Synergy Asset Management LLC boosted its holdings in shares of Peapack-Gladstone Financial by 7.9% in the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock valued at $11,199,000 after buying an additional 25,687 shares during the period. JPMorgan Chase & Co. lifted its holdings in Peapack-Gladstone Financial by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock worth $4,043,000 after acquiring an additional 8,393 shares during the last quarter. Algert Global LLC boosted its stake in Peapack-Gladstone Financial by 165.8% in the third quarter. Algert Global LLC now owns 24,558 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 15,320 shares during the period. State Street Corp grew 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 valued at $14,369,000 after purchasing an additional 12,332 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Peapack-Gladstone Financial during the 4th quarter worth approximately $3,590,000. 72.75% of the stock is owned by institutional investors.

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.