Peapack-Gladstone Financial (NASDAQ:PGC) Shares Gap Up – What’s Next?

Peapack-Gladstone Financial Co. (NASDAQ:PGC)’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 Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price objective on 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 0.9 %

The firm’s fifty day simple moving average is $31.78 and its two-hundred day simple moving average is $31.85. 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 market capitalization of $518.20 million, a price-to-earnings ratio of 15.93 and a beta of 1.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 EPS 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%. Sell-side analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Insider Transactions at Peapack-Gladstone Financial

In other news, CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction 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 sale, the chief executive officer now directly owns 40,409 shares of the company’s stock, valued at approximately $1,163,375.11. The trade was a 11.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory Martin Smith sold 17,633 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $31.95, for a total value of $563,374.35. Following the completion of the sale, the executive vice president now owns 297 shares in the company, valued at $9,489.15. This represents a 98.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,633 shares of company stock worth $1,573,124. 7.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Peapack-Gladstone Financial by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,549 shares of the financial services provider’s stock valued at $306,000 after buying an additional 380 shares during the period. Jane Street Group LLC boosted its holdings in Peapack-Gladstone Financial by 1.6% in the third quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider’s stock valued at $658,000 after purchasing an additional 387 shares during the period. Victory Capital Management Inc. grew its stake in Peapack-Gladstone Financial by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider’s stock worth $1,140,000 after purchasing an additional 567 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Peapack-Gladstone Financial by 1.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 57,485 shares of the financial services provider’s stock worth $1,842,000 after purchasing an additional 750 shares in the last quarter. Finally, Barclays PLC increased its holdings in Peapack-Gladstone Financial by 2.5% during the 4th quarter. Barclays PLC now owns 34,491 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 835 shares during the period. Institutional investors and hedge funds own 72.75% of the company’s stock.

About Peapack-Gladstone Financial

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.