Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $34.86, but opened at $33.31. Peapack-Gladstone Financial shares last traded at $34.04, with a volume of 10,987 shares changing hands.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods boosted their price objective 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.
Get Our Latest Stock Analysis on Peapack-Gladstone Financial
Peapack-Gladstone Financial Stock Down 2.7 %
The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a market cap of $573.99 million, a PE ratio of 17.65 and a beta of 0.99. The stock has a fifty day simple moving average of $32.68 and a two-hundred day simple moving average of $31.20.
Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, beating 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%. As a group, sell-side analysts expect that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.
Peapack-Gladstone Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Thursday, February 6th. Peapack-Gladstone Financial's payout ratio is 10.81%.
Insider Transactions at Peapack-Gladstone Financial
In other news, EVP Gregory Martin Smith sold 17,633 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $31.95, for a total transaction of $563,374.35. Following the completion of the transaction, the executive vice president now owns 297 shares of the company's stock, valued at approximately $9,489.15. The trade was a 98.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.63% of the stock is owned by insiders.
Institutional Trading of Peapack-Gladstone Financial
Hedge funds and other institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new stake in Peapack-Gladstone Financial in the fourth quarter worth approximately $32,000. Albion Financial Group UT purchased a new stake in Peapack-Gladstone Financial in the fourth quarter worth approximately $35,000. Point72 Asset Management L.P. boosted its stake in Peapack-Gladstone Financial by 157.5% in the third quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider's stock worth $66,000 after buying an additional 1,468 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Peapack-Gladstone Financial in the fourth quarter worth approximately $112,000. Finally, Quantbot Technologies LP boosted its stake in Peapack-Gladstone Financial by 507.2% in the fourth quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock worth $189,000 after buying an additional 4,930 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company's stock.
About Peapack-Gladstone Financial
(
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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