Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Sells $143,950.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 5,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $28.79, for a total value of $143,950.00. Following the completion of the transaction, the chief executive officer now directly owns 40,409 shares of the company’s stock, valued at $1,163,375.11. The trade was a 11.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Peapack-Gladstone Financial Stock Performance

NASDAQ PGC opened at $29.05 on Thursday. The company’s 50 day simple moving average is $31.72 and its two-hundred day simple moving average is $31.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. Peapack-Gladstone Financial Co. has a 1 year low of $20.30 and a 1 year high of $37.88. The stock has a market capitalization of $511.16 million, a PE ratio of 15.70 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. Analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Institutional Trading of Peapack-Gladstone Financial

A number of large investors have recently modified their holdings of PGC. Aquatic Capital Management LLC purchased a new stake in Peapack-Gladstone Financial in the fourth quarter valued at approximately $32,000. Albion Financial Group UT purchased a new stake in shares of Peapack-Gladstone Financial during the 4th quarter valued at $35,000. Point72 Asset Management L.P. raised its position in shares of Peapack-Gladstone Financial by 157.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,468 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Peapack-Gladstone Financial during the 4th quarter worth $112,000. Finally, Quantbot Technologies LP increased its stake in Peapack-Gladstone Financial by 507.2% in the fourth quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 4,930 shares during the last quarter. Institutional investors own 72.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

About Peapack-Gladstone Financial

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.