Peapack-Gladstone Financial (NASDAQ:PGC) Shares Gap Up - Still a Buy?

Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $29.18, but opened at $29.78. Peapack-Gladstone Financial shares last traded at $29.64, with a volume of 13,118 shares.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th.

Peapack-Gladstone Financial Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The stock's 50-day moving average is $31.61 and its 200 day moving average is $31.86. The stock has a market cap of $500.78 million, a price-to-earnings ratio of 15.38 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (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%. As a group, analysts predict that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

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Insider Buying and Selling at Peapack-Gladstone Financial

In related news, EVP John P. Babcock sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total value of $287,600.00. Following the sale, the executive vice president now directly owns 39,155 shares in the company, valued at $1,126,097.80. The trade was a 20.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas L. Kennedy sold 5,000 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $28.79, for a total transaction of $143,950.00. Following the transaction, the chief executive officer now owns 40,409 shares of the company's stock, valued at $1,163,375.11. This trade represents a 11.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,633 shares of company stock valued at $1,573,124. Corporate insiders own 7.63% of the company's stock.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Peapack-Gladstone Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider's stock valued at $20,975,000 after acquiring an additional 22,805 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Peapack-Gladstone Financial by 34.0% during the 4th 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 buying an additional 2,272 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of 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 buying an additional 14,220 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Peapack-Gladstone Financial during the fourth quarter valued at approximately $299,000. Institutional investors and hedge funds 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.