Insider Buying: Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director Acquires 6,316 Shares of Stock

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

Peapack-Gladstone Financial Trading Up 0.7 %

PGC opened at $29.25 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The business’s 50 day moving average is $31.42 and its two-hundred day moving average is $31.92. The firm has a market cap of $514.68 million, a price-to-earnings ratio of 15.81 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its 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%. On average, research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Hedge Funds Weigh In On Peapack-Gladstone Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in PGC. FMR LLC lifted its position in Peapack-Gladstone Financial by 27.1% during the 3rd quarter. FMR LLC now owns 28,358 shares of the financial services provider’s stock worth $777,000 after acquiring an additional 6,054 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Peapack-Gladstone Financial by 108.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,195 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 13,623 shares during the period. Janus Henderson Group PLC purchased a new position in Peapack-Gladstone Financial in the 3rd quarter valued at $211,000. Point72 Asset Management L.P. increased its stake in Peapack-Gladstone Financial by 157.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,468 shares during the period. Finally, State Street Corp raised its position in Peapack-Gladstone Financial by 2.4% during the 3rd quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after buying an additional 12,332 shares during the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Wall Street Analyst Weigh In

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