Peapack-Gladstone Financial (NASDAQ:PGC) Sets New 1-Year High - What's Next?

Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $33.42 and last traded at $33.42, with a volume of 3350 shares trading hands. The stock had previously closed at $33.24.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $32.00 price target (up from $28.00) on shares of Peapack-Gladstone Financial in a research report on Monday, July 29th. Piper Sandler raised Peapack-Gladstone Financial from a "neutral" rating to an "overweight" rating and increased their price target for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd.

Peapack-Gladstone Financial Trading Down 1.7 %

The firm has a fifty day moving average of $27.89 and a two-hundred day moving average of $25.12. The company has a market cap of $577.36 million, a PE ratio of 14.98 and a beta of 0.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Peapack-Gladstone Financial had a return on equity of 5.60% and a net margin of 8.12%. The business had revenue of $102.14 million during the quarter, compared to the consensus estimate of $58.24 million. As a group, sell-side analysts predict that Peapack-Gladstone Financial Co. will post 1.82 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. Peapack-Gladstone Financial's dividend payout ratio (DPR) is presently 9.17%.

Insider Activity

In other news, EVP John P. Babcock sold 10,000 shares of Peapack-Gladstone Financial stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the completion of the sale, the executive vice president now owns 52,155 shares in the company, valued at approximately $1,402,447.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.63% of the company's stock.

Institutional Trading of Peapack-Gladstone Financial

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 9,991 shares during the period. Boston Partners increased its stake in shares of Peapack-Gladstone Financial by 1.6% during the first quarter. Boston Partners now owns 762,659 shares of the financial services provider's stock valued at $18,339,000 after buying an additional 12,226 shares during the period. American Century Companies Inc. increased its stake in shares of Peapack-Gladstone Financial by 15.3% during the second quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider's stock valued at $6,242,000 after buying an additional 36,564 shares during the period. Salzhauer Michael increased its stake in shares of Peapack-Gladstone Financial by 5.1% during the second quarter. Salzhauer Michael now owns 152,339 shares of the financial services provider's stock valued at $3,450,000 after buying an additional 7,429 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Peapack-Gladstone Financial by 45.6% during the second quarter. AQR Capital Management LLC now owns 95,930 shares of the financial services provider's stock valued at $2,173,000 after buying an additional 30,031 shares during the period. Institutional investors own 72.75% of the company's stock.

Peapack-Gladstone Financial Company Profile

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.