F Duffield Meyercord Acquires 6,316 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director F Duffield Meyercord acquired 6,316 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was bought at an average price of $28.44 per share, for a total transaction of $179,627.04. Following the completion of the acquisition, the director now owns 140,372 shares in the company, valued at approximately $3,992,179.68. The trade was a 4.71 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Peapack-Gladstone Financial Stock Up 0.7 %

Shares of NASDAQ:PGC opened at $29.25 on Thursday. The firm’s 50-day moving average is $31.42 and its two-hundred day moving average is $31.92. 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 firm has a market capitalization of $514.68 million, a PE ratio of 15.81 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 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%. Analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Several hedge funds and other institutional investors have recently made changes to their positions in PGC. FMR LLC raised its holdings in Peapack-Gladstone Financial by 27.1% in the third quarter. FMR LLC now owns 28,358 shares of the financial services provider’s stock valued at $777,000 after acquiring an additional 6,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Peapack-Gladstone Financial by 108.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,195 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 13,623 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Peapack-Gladstone Financial during the 3rd quarter worth $211,000. Point72 Asset Management L.P. grew its stake in shares of Peapack-Gladstone Financial by 157.5% during the third quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,468 shares in the last quarter. Finally, State Street Corp increased its holdings 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 valued at $14,369,000 after buying an additional 12,332 shares during the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target 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.