Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) CEO Douglas L. Kennedy sold 5,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $28.79, for a total transaction of $143,950.00. Following the completion of the transaction, the chief executive officer now owns 40,409 shares in the company, valued at approximately $1,163,375.11. This represents a 11.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Peapack-Gladstone Financial Stock Up 3.2 %
PGC opened at $29.58 on Tuesday. The company has a market capitalization of $520.49 million, a PE ratio of 15.99 and a beta of 1.00. The business has a 50-day moving average of $31.83 and a 200-day moving average of $31.83. 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 current ratio of 0.97 and a quick ratio of 0.97.
Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods upped their price target on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th.
View Our Latest Research Report on PGC
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aquatic Capital Management LLC acquired a new position in Peapack-Gladstone Financial during the fourth quarter worth $32,000. Albion Financial Group UT bought a new stake in shares of Peapack-Gladstone Financial during the 4th quarter worth about $35,000. Point72 Asset Management L.P. increased its holdings 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 acquiring an additional 1,468 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Peapack-Gladstone Financial in the 4th quarter valued at approximately $112,000. Finally, Quantbot Technologies LP lifted its holdings 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 worth $189,000 after purchasing an additional 4,930 shares during the last quarter. Institutional investors 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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