Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Vincent A. Spero sold 3,000 shares of Peapack-Gladstone Financial stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.22, for a total value of $84,660.00. Following the completion of the transaction, the executive vice president now owns 47,620 shares of the company’s stock, valued at approximately $1,343,836.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Peapack-Gladstone Financial stock traded down $0.25 on Friday, reaching $28.10. 5,615 shares of the company were exchanged, compared to its average volume of 52,319. The firm has a market capitalization of $550.53 million, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.41. Peapack-Gladstone Financial Co. has a fifty-two week low of $23.96 and a fifty-two week high of $36.42.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Friday, April 26th. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $41.74 million for the quarter, compared to the consensus estimate of $41.58 million. Peapack-Gladstone Financial had a return on equity of 9.73% and a net margin of 21.04%. Analysts expect that Peapack-Gladstone Financial Co. will post 2.35 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. Peapack-Gladstone Financial’s payout ratio is presently 8.66%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Peapack-Gladstone Financial by 422.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,331 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,076 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Peapack-Gladstone Financial by 78,720.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,941 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 3,936 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Peapack-Gladstone Financial in the first quarter valued at about $120,000. Metropolitan Life Insurance Co. NY increased its position in shares of Peapack-Gladstone Financial by 337.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,590 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 4,312 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. bought a new position in Peapack-Gladstone Financial during the first quarter worth about $201,000. Institutional investors and hedge funds own 71.60% of the company’s stock.

PGC has been the topic of a number of recent analyst reports. BidaskClub raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Peapack-Gladstone Financial currently has an average rating of “Hold” and a consensus target price of $36.50.

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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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.

Further Reading: What is Liquidity?

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