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 company’s stock in a transaction on Friday, September 17th. The shares were sold at an average price of $32.61, for a total value of $163,050.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NASDAQ:PGC traded down $0.99 during mid-day trading on Monday, hitting $31.33. The company had a trading volume of 625 shares, compared to its average volume of 56,663. Peapack-Gladstone Financial Co. has a fifty-two week low of $14.38 and a fifty-two week high of $34.67. The business’s fifty day moving average is $32.26 and its two-hundred day moving average is $31.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $589.94 million, a P/E ratio of 14.18 and a beta of 1.35.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Tuesday, July 27th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. Peapack-Gladstone Financial had a return on equity of 8.37% and a net margin of 19.48%. Equities analysts forecast that Peapack-Gladstone Financial Co. will post 2.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Tuesday, August 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, August 9th. Peapack-Gladstone Financial’s dividend payout ratio is currently 14.60%.

Separately, Zacks Investment Research lowered Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Peapack-Gladstone Financial currently has an average rating of “Buy” and a consensus target price of $30.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC acquired a new stake in shares of Peapack-Gladstone Financial during the second quarter worth about $214,000. Morgan Stanley raised its position in shares of Peapack-Gladstone Financial by 60.4% during the second quarter. Morgan Stanley now owns 4,680 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 1,762 shares during the period. Zacks Investment Management acquired a new stake in shares of Peapack-Gladstone Financial during the second quarter worth about $247,000. Orchard Capital Managment LLC raised its position in shares of Peapack-Gladstone Financial by 14.0% during the second quarter. Orchard Capital Managment LLC now owns 185,273 shares of the financial services provider’s stock worth $5,756,000 after purchasing an additional 22,820 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Peapack-Gladstone Financial by 13.1% during the second quarter. Invesco Ltd. now owns 29,586 shares of the financial services provider’s stock worth $920,000 after buying an additional 3,418 shares in the last quarter. 70.39% of the stock is currently owned by institutional investors.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corp. is a bank holding company, which engages in the provision of private banking services to businesses, non-profits and consumer. It operates through the following segments: Banking and Peapack Private. The Banking segment provides commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services; and customer support and sales.

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Insider Buying and Selling by Quarter for Peapack-Gladstone Financial (NASDAQ:PGC)

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