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

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $28.58, for a total value of $142,900.00. Following the sale, the chief executive officer now owns 35,409 shares in the company, valued at $1,011,989.22. This represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Peapack-Gladstone Financial Trading Up 0.2 %

PGC traded up $0.07 during trading hours on Monday, reaching $28.53. The company’s stock had a trading volume of 28,014 shares, compared to its average volume of 97,878. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $501.93 million, a PE ratio of 15.42 and a beta of 1.00. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. The business’s 50-day moving average is $31.61 and its 200-day moving average is $31.90.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Peapack-Gladstone Financial by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,549 shares of the financial services provider’s stock worth $306,000 after buying an additional 380 shares during the period. Jane Street Group LLC grew its position in 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 purchasing an additional 387 shares in the last quarter. Victory Capital Management Inc. raised its stake in Peapack-Gladstone Financial by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider’s stock valued at $1,140,000 after buying an additional 567 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Peapack-Gladstone Financial by 1.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 57,485 shares of the financial services provider’s stock valued at $1,842,000 after purchasing an additional 750 shares during the last quarter. Finally, Barclays PLC raised its stake 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 worth $1,105,000 after purchasing an additional 835 shares in the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

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.