Insider Selling: Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Sells 5,000 Shares of Stock

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

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock opened at $29.05 on Thursday. The company has a market capitalization of $511.16 million, a P/E ratio of 15.70 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 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 has a 50 day moving average price of $31.72 and a two-hundred day moving average price of $31.83.

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

Institutional Trading of Peapack-Gladstone Financial

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Peapack-Gladstone Financial by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider’s stock valued at $35,811,000 after purchasing an additional 10,221 shares during the last quarter. Vanguard Group Inc. raised its holdings in Peapack-Gladstone Financial by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider’s stock worth $30,037,000 after purchasing an additional 62,803 shares in the last quarter. Boston Partners raised its stake in Peapack-Gladstone Financial by 2.3% in the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider’s stock worth $25,046,000 after buying an additional 17,220 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Peapack-Gladstone Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider’s stock worth $20,975,000 after acquiring an additional 22,805 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Peapack-Gladstone Financial by 2.4% in the 3rd 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 period. 72.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.