Peapack-Gladstone Financial (NASDAQ:PGC) EVP Sells $187,630.48 in Stock

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Maureen Hemhauser sold 5,272 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $35.59, for a total value of $187,630.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Peapack-Gladstone Financial Stock Down 1.9%

Shares of PGC stock opened at $33.67 on Friday. Peapack-Gladstone Financial Corporation has a 12 month low of $23.96 and a 12 month high of $35.68. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a market cap of $591.25 million, a PE ratio of 17.36 and a beta of 0.73. The stock has a 50 day moving average of $29.96 and a 200-day moving average of $28.13.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. Peapack-Gladstone Financial had a net margin of 7.91% and a return on equity of 5.51%. The business had revenue of $77.67 million for the quarter. On average, equities analysts predict that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Peapack-Gladstone Financial’s payout ratio is currently 10.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PGC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Piper Sandler lifted their target price on shares of Peapack-Gladstone Financial from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Finally, Zacks Research upgraded Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PGC. Salzhauer Michael grew its position in shares of Peapack-Gladstone Financial by 79.2% during the 3rd quarter. Salzhauer Michael now owns 254,630 shares of the financial services provider’s stock worth $7,028,000 after buying an additional 112,504 shares during the period. Acadian Asset Management LLC lifted its holdings in Peapack-Gladstone Financial by 6.3% in the second quarter. Acadian Asset Management LLC now owns 101,890 shares of the financial services provider’s stock valued at $2,878,000 after buying an additional 6,069 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Peapack-Gladstone Financial by 47.2% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 17,887 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 5,735 shares during the last quarter. Prudential Financial Inc. grew its holdings in Peapack-Gladstone Financial by 10.6% during the 2nd quarter. Prudential Financial Inc. now owns 226,145 shares of the financial services provider’s stock worth $6,389,000 after acquiring an additional 21,645 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Peapack-Gladstone Financial by 15.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 69,551 shares of the financial services provider’s stock valued at $1,965,000 after acquiring an additional 9,342 shares during the last quarter. Institutional investors own 72.75% of the company’s stock.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.