Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) EVP John P. Babcock sold 10,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total transaction of $287,600.00. Following the completion of the sale, the executive vice president now owns 39,155 shares in the company, valued at $1,126,097.80. This represents a 20.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Peapack-Gladstone Financial Stock Up 0.9 %
PGC opened at $29.55 on Friday. The stock has a market capitalization of $519.96 million, a price-to-earnings ratio of 15.97 and a beta of 1.00. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88. 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 company has a fifty day moving average of $31.86 and a two-hundred day moving average of $31.75.
Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. On average, research analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods upped their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th.
Get Our Latest Report on Peapack-Gladstone Financial
Institutional Trading of Peapack-Gladstone Financial
Several institutional investors have recently added to or reduced their stakes in PGC. Aquatic Capital Management LLC acquired a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at approximately $32,000. Albion Financial Group UT purchased a new position in Peapack-Gladstone Financial in the fourth quarter valued at $35,000. Point72 Asset Management L.P. grew its stake in 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 worth $66,000 after purchasing an additional 1,468 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Peapack-Gladstone Financial during the 4th quarter worth about $112,000. Finally, Quantbot Technologies LP raised its position in Peapack-Gladstone Financial by 507.2% in the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock valued at $189,000 after purchasing an additional 4,930 shares in the last quarter. Institutional investors and hedge funds own 72.75% of the company's stock.
Peapack-Gladstone Financial Company Profile
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Get Free Report)
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.
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