Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director F Duffield Meyercord Purchases 6,316 Shares

Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director F Duffield Meyercord acquired 6,316 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was purchased at an average cost of $28.44 per share, for a total transaction of $179,627.04. Following the purchase, the director now directly owns 140,372 shares in the company, valued at approximately $3,992,179.68. This represents a 4.71 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Peapack-Gladstone Financial Stock Up 2.0 %

NASDAQ:PGC traded up $0.57 during trading hours on Tuesday, hitting $28.97. 68,206 shares of the company’s stock traded hands, compared to its average volume of 98,048. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88. The firm has a market cap of $509.76 million, a P/E ratio of 15.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s fifty day moving average price is $31.54 and its two-hundred day moving average price is $31.92.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC boosted its position in Peapack-Gladstone Financial by 7.9% during the fourth quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock valued at $11,199,000 after purchasing an additional 25,687 shares during the last quarter. JPMorgan Chase & Co. raised its position in Peapack-Gladstone Financial by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock valued at $4,043,000 after acquiring an additional 8,393 shares in the last quarter. State Street Corp lifted its stake in Peapack-Gladstone Financial by 2.4% in the third quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock valued at $14,369,000 after acquiring an additional 12,332 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Peapack-Gladstone Financial in the fourth quarter worth approximately $3,590,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at $532,000. 72.75% of the stock is currently owned by hedge funds and other 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.