Peapack-Gladstone Financial (NASDAQ:PGC) EVP Gregory Martin Smith Sells 1,250 Shares

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Gregory Smith sold 1,250 shares of Peapack-Gladstone Financial stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $44.66, for a total value of $55,825.00. Following the completion of the sale, the executive vice president owned 12,622 shares of the company’s stock, valued at approximately $563,698.52. The trade was a 9.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Peapack-Gladstone Financial Trading Up 1.1%

Shares of NASDAQ:PGC opened at $45.94 on Friday. Peapack-Gladstone Financial Corporation has a 1-year low of $24.71 and a 1-year high of $49.14. The stock has a market capitalization of $814.52 million, a P/E ratio of 15.95 and a beta of 0.70. The business has a 50-day moving average price of $46.20 and a two-hundred day moving average price of $41.68.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.03). Peapack-Gladstone Financial had a return on equity of 7.82% and a net margin of 11.09%.The business had revenue of $86.05 million for the quarter, compared to analyst estimates of $85.17 million. As a group, equities analysts predict that Peapack-Gladstone Financial Corporation will post 3.58 EPS for the current year.

Peapack-Gladstone Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, August 13th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 6.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Zacks Research downgraded Peapack-Gladstone Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Wall Street Zen lowered Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Raymond James Financial upped their price target on Peapack-Gladstone Financial from $49.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Piper Sandler lifted their price objective on shares of Peapack-Gladstone Financial from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Peapack-Gladstone Financial in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $56.33.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in Peapack-Gladstone Financial by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,252 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 529 shares in the last quarter. Parallel Advisors LLC increased its holdings in Peapack-Gladstone Financial by 171.9% during the 1st quarter. Parallel Advisors LLC now owns 1,841 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,164 shares in the last quarter. OP Asset Management Ltd bought a new position in Peapack-Gladstone Financial during the 1st quarter worth about $116,000. Aquatic Capital Management LLC raised its stake in shares of Peapack-Gladstone Financial by 23.1% in the 3rd quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 985 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Peapack-Gladstone Financial in the 2nd quarter valued at about $176,000. 72.75% of the stock is currently owned by institutional investors.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.