Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Sells $56,600.00 in Stock

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Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $28.30, for a total value of $56,600.00. Following the completion of the transaction, the executive vice president now owns 45,620 shares of the company’s stock, valued at approximately $1,291,046. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Peapack-Gladstone Financial stock opened at $28.59 on Friday. The stock has a market cap of $546.83 million, a PE ratio of 12.38, a P/E/G ratio of 2.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day simple moving average is $27.97. Peapack-Gladstone Financial Co. has a 52 week low of $23.96 and a 52 week high of $35.19.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Friday, April 26th. The financial services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company had revenue of $41.74 million during the quarter, compared to analysts’ expectations of $41.58 million. Peapack-Gladstone Financial had a return on equity of 9.73% and a net margin of 21.04%. Equities analysts forecast that Peapack-Gladstone Financial Co. will post 2.35 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Peapack-Gladstone Financial by 43.8% during the fourth quarter. Rhumbline Advisers now owns 25,901 shares of the financial services provider’s stock valued at $652,000 after purchasing an additional 7,885 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Peapack-Gladstone Financial by 2.7% during the fourth quarter. Prudential Financial Inc. now owns 95,030 shares of the financial services provider’s stock valued at $2,393,000 after purchasing an additional 2,491 shares in the last quarter. BlackRock Inc. increased its stake in shares of Peapack-Gladstone Financial by 4.4% during the fourth quarter. BlackRock Inc. now owns 1,252,633 shares of the financial services provider’s stock valued at $31,540,000 after purchasing an additional 52,895 shares in the last quarter. Citigroup Inc. increased its stake in shares of Peapack-Gladstone Financial by 57.4% during the fourth quarter. Citigroup Inc. now owns 9,629 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 3,512 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Peapack-Gladstone Financial by 2.7% during the fourth quarter. Northern Trust Corp now owns 244,692 shares of the financial services provider’s stock valued at $6,162,000 after purchasing an additional 6,382 shares in the last quarter. Institutional investors own 71.57% of the company’s stock.

A number of research firms have weighed in on PGC. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Peapack-Gladstone Financial presently has a consensus rating of “Hold” and a consensus price target of $36.50.

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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

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