Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock Sells 10,000 Shares

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $28.76, for a total value of $287,600.00. Following the sale, the executive vice president now owns 39,155 shares of the company’s stock, valued at $1,126,097.80. This trade represents a 20.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Peapack-Gladstone Financial Trading Up 0.9 %

Shares of PGC opened at $29.55 on Friday. The firm has a market cap of $519.96 million, a price-to-earnings ratio of 15.97 and a beta of 1.00. The firm has a 50 day moving average price of $31.86 and a 200-day moving average price of $31.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. As a group, equities research analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price objective on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Synergy Asset Management LLC increased its stake in shares of Peapack-Gladstone Financial by 7.9% in the fourth quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock worth $11,199,000 after purchasing an additional 25,687 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Peapack-Gladstone Financial by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock worth $4,043,000 after buying an additional 8,393 shares during the last quarter. Algert Global LLC raised its position in Peapack-Gladstone Financial by 165.8% during the third quarter. Algert Global LLC now owns 24,558 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 15,320 shares during the period. State Street Corp lifted its position in Peapack-Gladstone Financial by 2.4% in the third 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. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth about $3,590,000. Institutional investors own 72.75% of the company’s stock.

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.