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

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 10,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $26.89, for a total value of $268,900.00. Following the transaction, the executive vice president now directly owns 52,155 shares in the company, valued at approximately $1,402,447.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Peapack-Gladstone Financial Trading Down 2.1 %

Peapack-Gladstone Financial stock opened at $26.30 on Friday. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $30.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $467.25 million, a PE ratio of 12.06 and a beta of 0.99. The business’s 50-day simple moving average is $25.93 and its 200-day simple moving average is $23.99.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.50%. The company had revenue of $100.79 million during the quarter, compared to analyst estimates of $56.80 million. Equities research analysts forecast that Peapack-Gladstone Financial Co. will post 1.68 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 8th. Peapack-Gladstone Financial’s dividend payout ratio is currently 9.17%.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Hedge funds have recently made changes to their positions in the stock. Basswood Capital Management L.L.C. acquired a new position in shares of Peapack-Gladstone Financial in the 4th quarter valued at $4,590,000. Corient Private Wealth LLC acquired a new position in Peapack-Gladstone Financial in the fourth quarter worth about $467,000. Quest Partners LLC bought a new position in Peapack-Gladstone Financial during the fourth quarter worth about $77,000. Vanguard Group Inc. boosted its holdings in Peapack-Gladstone Financial by 1.1% during the first quarter. Vanguard Group Inc. now owns 903,093 shares of the financial services provider’s stock valued at $21,972,000 after purchasing an additional 9,991 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Peapack-Gladstone Financial by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 628 shares during the period. Institutional investors own 72.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $32.00 price target (up previously from $28.00) on shares of Peapack-Gladstone Financial in a report on Monday, July 29th.

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.