Peapack-Gladstone Financial (NASDAQ:PGC) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Peapack-Gladstone Financial Corporation (NASDAQ:PGC)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $35.38 and traded as high as $45.01. Peapack-Gladstone Financial shares last traded at $44.75, with a volume of 254,831 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PGC shares. Weiss Ratings upgraded shares of Peapack-Gladstone Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Piper Sandler raised their price objective on shares of Peapack-Gladstone Financial from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Peapack-Gladstone Financial Stock Performance

The stock has a fifty day moving average of $42.31 and a 200-day moving average of $35.45. The company has a market cap of $792.97 million, a PE ratio of 18.04 and a beta of 0.72.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.14. The business had revenue of $82.49 million for the quarter, compared to analyst estimates of $79.17 million. Peapack-Gladstone Financial had a return on equity of 6.75% and a net margin of 9.60%. As a group, equities analysts anticipate that Peapack-Gladstone Financial Corporation will post 3.69 EPS for the current fiscal year.

Peapack-Gladstone Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 7th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is currently 8.06%.

Insiders Place Their Bets

In other Peapack-Gladstone Financial news, Director Anthony W. Spinelli sold 2,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $44.63, for a total value of $89,260.00. Following the completion of the sale, the director directly owned 11,742 shares of the company’s stock, valued at $524,045.46. The trade was a 14.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.75% of the stock is owned by insiders.

Institutional Trading of Peapack-Gladstone Financial

Several institutional investors and hedge funds have recently modified their holdings of PGC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Peapack-Gladstone Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 390 shares in the last quarter. Azora Capital LP increased its holdings in shares of Peapack-Gladstone Financial by 4.1% during the fourth quarter. Azora Capital LP now owns 11,058 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 431 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Peapack-Gladstone Financial by 0.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 65,766 shares of the financial services provider’s stock valued at $1,832,000 after acquiring an additional 500 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Peapack-Gladstone Financial by 3.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 16,405 shares of the financial services provider’s stock valued at $453,000 after purchasing an additional 526 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Peapack-Gladstone Financial by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,252 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 529 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.