Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $28.58, for a total transaction of $142,900.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Peapack-Gladstone Financial Stock Performance
Peapack-Gladstone Financial stock traded down $2.96 during midday trading on Thursday, hitting $26.29. 125,386 shares of the company's stock were exchanged, compared to its average volume of 98,532. The firm's 50 day simple moving average is $31.42 and its 200 day simple moving average is $31.92. 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 stock has a market cap of $462.60 million, a price-to-earnings ratio of 14.21 and a beta of 1.00. Peapack-Gladstone Financial Co. has a 12-month low of $20.30 and a 12-month high of $37.88.
Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate 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 research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC bought a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at approximately $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. boosted its stake in 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 valued at $66,000 after buying an additional 1,468 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Peapack-Gladstone Financial in the 4th quarter worth approximately $112,000. Finally, Quantbot Technologies LP raised its holdings in shares of 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 in the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods upped 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.
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About Peapack-Gladstone Financial
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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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