Peapack-Gladstone Financial (NASDAQ:PGC) EVP Sells 5,272 Shares

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Maureen Hemhauser sold 5,272 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $35.59, for a total value of $187,630.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Peapack-Gladstone Financial Stock Down 2.3%

Shares of Peapack-Gladstone Financial stock traded down $0.82 on Tuesday, reaching $34.68. The stock had a trading volume of 208,144 shares, compared to its average volume of 134,626. Peapack-Gladstone Financial Corporation has a 1 year low of $23.96 and a 1 year high of $35.68. The company has a 50 day moving average price of $29.73 and a 200 day moving average price of $28.04. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $608.98 million, a P/E ratio of 17.88 and a beta of 0.73.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Tuesday, February 10th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. Peapack-Gladstone Financial had a return on equity of 5.51% and a net margin of 7.91%.The firm had revenue of $77.67 million for the quarter, compared to the consensus estimate of $73.69 million. As a group, equities research analysts forecast that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be paid a $0.05 dividend. The ex-dividend date is Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 10.31%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Zacks Research upgraded Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd. Finally, Piper Sandler increased their price objective on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Institutional Investors Weigh In On Peapack-Gladstone Financial

A number of institutional investors have recently modified their holdings of PGC. Goldman Sachs Group Inc. raised its holdings in Peapack-Gladstone Financial by 53.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 138,006 shares of the financial services provider’s stock worth $3,843,000 after purchasing an additional 48,330 shares during the period. Greenwich Wealth Management LLC purchased a new stake in shares of Peapack-Gladstone Financial in the fourth quarter valued at approximately $418,000. PL Capital Advisors LLC acquired a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth approximately $1,267,000. Geode Capital Management LLC lifted its position in shares of Peapack-Gladstone Financial by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 452,521 shares of the financial services provider’s stock valued at $12,605,000 after buying an additional 5,260 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Peapack-Gladstone Financial by 0.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 65,766 shares of the financial services provider’s stock valued at $1,832,000 after acquiring an additional 500 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.

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.