Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy Sells 5,000 Shares

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction on Friday, March 28th. The shares were sold at an average price of $28.58, for a total value of $142,900.00. Following the sale, the chief executive officer now directly owns 35,409 shares of the company’s stock, valued at approximately $1,011,989.22. This trade represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Peapack-Gladstone Financial Trading Down 0.2 %

NASDAQ:PGC opened at $28.40 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50-day simple moving average of $31.54 and a 200-day simple moving average of $31.92. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88. The firm has a market cap of $499.73 million, a P/E ratio of 15.35 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results 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%. Equities analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Peapack-Gladstone Financial

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

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price target on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company 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.