Peapack-Gladstone Financial (NASDAQ:PGC) Shares Gap Down - What's Next?

Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $30.63, but opened at $29.68. Peapack-Gladstone Financial shares last traded at $29.68, with a volume of 3,184 shares traded.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $32.00 price target (up from $28.00) on shares of Peapack-Gladstone Financial in a report on Monday, July 29th.

Peapack-Gladstone Financial Stock Down 4.1 %

The business has a fifty day moving average of $27.36 and a 200-day moving average of $24.85. The stock has a market cap of $505.44 million, a PE ratio of 13.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Peapack-Gladstone Financial had a return on equity of 5.91% and a net margin of 8.50%. The firm had revenue of $100.79 million during the quarter, compared to the consensus estimate of $56.80 million. Equities research analysts anticipate that Peapack-Gladstone Financial Co. will post 1.75 earnings per share for the current year.

Insider Activity

In other Peapack-Gladstone Financial news, EVP John P. Babcock sold 10,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $26.89, for a total transaction of $268,900.00. Following the sale, the executive vice president now owns 52,155 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.63% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PGC. Vanguard Group Inc. increased its position in Peapack-Gladstone Financial by 1.1% during the 1st 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 in the last quarter. Boston Partners boosted its stake in Peapack-Gladstone Financial by 1.6% in the 1st quarter. Boston Partners now owns 762,659 shares of the financial services provider's stock worth $18,339,000 after purchasing an additional 12,226 shares in the last quarter. Wellington Management Group LLP grew its position in Peapack-Gladstone Financial by 4.5% during the 4th quarter. Wellington Management Group LLP now owns 564,178 shares of the financial services provider's stock worth $16,824,000 after purchasing an additional 24,083 shares during the last quarter. American Century Companies Inc. increased its stake in Peapack-Gladstone Financial by 15.3% during the 2nd quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider's stock valued at $6,242,000 after purchasing an additional 36,564 shares in the last quarter. Finally, Salzhauer Michael raised its holdings in shares of Peapack-Gladstone Financial by 5.1% in the second quarter. Salzhauer Michael now owns 152,339 shares of the financial services provider's stock worth $3,450,000 after buying an additional 7,429 shares during the last quarter. Hedge funds and other 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.