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 21st. The stock was sold at an average price of $28.79, for a total value of $143,950.00. Following the completion of the transaction, the chief executive officer now owns 40,409 shares of the company's stock, valued at approximately $1,163,375.11. This trade represents a 11.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Peapack-Gladstone Financial Price Performance
Shares of PGC traded down $0.71 during mid-day trading on Friday, hitting $28.48. 42,982 shares of the company were exchanged, compared to its average volume of 98,349. Peapack-Gladstone Financial Co. has a 1-year low of $20.30 and a 1-year 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 50 day moving average of $31.68 and a 200-day moving average of $31.81. The stock has a market cap of $501.05 million, a price-to-earnings ratio of 15.39 and a beta of 1.00.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. Analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.
Institutional Investors Weigh In On Peapack-Gladstone Financial
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Peapack-Gladstone Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider's stock worth $20,975,000 after buying an additional 22,805 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Peapack-Gladstone Financial by 34.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 8,517 shares of the financial services provider's stock worth $273,000 after purchasing an additional 2,162 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Peapack-Gladstone Financial by 8.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,467 shares of the financial services provider's stock worth $912,000 after purchasing an additional 2,272 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Peapack-Gladstone Financial by 41.1% in the fourth quarter. Nuveen Asset Management LLC now owns 48,831 shares of the financial services provider's stock valued at $1,565,000 after purchasing an additional 14,220 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Peapack-Gladstone Financial in the fourth quarter valued at $299,000. Institutional investors and hedge funds own 72.75% of the company's stock.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods boosted their price objective 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.
Get Our Latest Stock Analysis on PGC
Peapack-Gladstone Financial Company Profile
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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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