Peapack-Gladstone Financial (NASDAQ:PGC) Stock Passes Below 200 Day Moving Average - Should You Sell?

Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.72 and traded as low as $29.22. Peapack-Gladstone Financial shares last traded at $30.18, with a volume of 83,864 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler upgraded shares of Peapack-Gladstone Financial from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $30.00 to $35.00 in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their target price on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th.

Peapack-Gladstone Financial Stock Up 4.3 %

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 market cap of $553.58 million, a PE ratio of 17.39 and a beta of 1.00. The stock's 50 day moving average price is $34.53 and its 200-day moving average price is $29.72.

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. The company had revenue of $102.14 million for the quarter, compared to the consensus estimate of $58.24 million. Peapack-Gladstone Financial had a net margin of 8.12% and a return on equity of 5.55%. On average, analysts predict that Peapack-Gladstone Financial Co. will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John P. Babcock sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $32.29, for a total value of $96,870.00. Following the completion of the transaction, the executive vice president now directly owns 49,155 shares of the company's stock, valued at $1,587,214.95. This represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.63% of the company's stock.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Several hedge funds have recently made changes to their positions in PGC. Acadian Asset Management LLC purchased a new position in shares of Peapack-Gladstone Financial during the second quarter valued at approximately $1,444,000. American Century Companies Inc. grew its stake in shares of Peapack-Gladstone Financial by 15.3% in the second quarter. American Century Companies Inc. now owns 275,576 shares of the financial services provider's stock worth $6,242,000 after acquiring an additional 36,564 shares during the last quarter. Salzhauer Michael increased its holdings 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 acquiring an additional 7,429 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Peapack-Gladstone Financial in the 2nd quarter worth about $214,000. Finally, Cubist Systematic Strategies LLC bought a new position in Peapack-Gladstone Financial in the 2nd quarter worth about $223,000. 72.75% of the stock is currently owned by institutional investors.

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.