Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Sells $578,200.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 20,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the transaction, the chief executive officer now directly owns 43,703 shares of the company’s stock, valued at $1,263,453.73. The trade was a 31.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Peapack-Gladstone Financial Price Performance

PGC stock opened at $29.55 on Friday. Peapack-Gladstone Financial Co. has a 12 month low of $20.30 and a 12 month high of $37.88. 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 company has a 50-day moving average price of $31.86 and a 200 day moving average price of $31.75. The stock has a market cap of $519.96 million, a PE ratio of 15.97 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data 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 net margin of 8.11% and a return on equity of 5.57%. Equities research analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On Peapack-Gladstone Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGC. Basswood Capital Management L.L.C. bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at about $7,928,000. Assenagon Asset Management S.A. bought a new stake in Peapack-Gladstone Financial during the 4th quarter valued at about $3,590,000. Vanguard Group Inc. lifted its holdings in Peapack-Gladstone Financial by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider’s stock valued at $30,037,000 after buying an additional 62,803 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Peapack-Gladstone Financial by 37.5% during the 4th quarter. JPMorgan Chase & Co. now owns 202,865 shares of the financial services provider’s stock valued at $6,502,000 after buying an additional 55,363 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Peapack-Gladstone Financial by 11.6% during the 4th quarter. American Century Companies Inc. now owns 339,148 shares of the financial services provider’s stock valued at $10,870,000 after buying an additional 35,159 shares in the last quarter. Institutional investors own 72.75% of the company’s stock.

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 stock an “outperform” rating in a research note on Wednesday, December 4th.

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.