Peapack-Gladstone Financial (NASDAQ:PGC) EVP Sells $52,360.00 in Stock

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Lisa Chalkan sold 1,100 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $47.60, for a total value of $52,360.00. Following the sale, the executive vice president directly owned 26,075 shares of the company’s stock, valued at $1,241,170. This represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Peapack-Gladstone Financial Price Performance

NASDAQ:PGC opened at $47.38 on Friday. The company has a market cap of $839.57 million, a P/E ratio of 19.10 and a beta of 0.71. The firm’s fifty day moving average price is $43.73 and its two-hundred day moving average price is $36.67. Peapack-Gladstone Financial Corporation has a one year low of $24.42 and a one year high of $49.14.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.14. The company had revenue of $82.49 million during the quarter, compared to analysts’ expectations of $79.17 million. Peapack-Gladstone Financial had a net margin of 9.60% and a return on equity of 6.75%. As a group, equities research analysts expect that Peapack-Gladstone Financial Corporation will post 3.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Peapack-Gladstone Financial from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Raymond James Financial increased their target price on Peapack-Gladstone Financial from $49.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Weiss Ratings raised Peapack-Gladstone Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Finally, Piper Sandler boosted their price target on Peapack-Gladstone Financial from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $49.67.

Institutional Trading of Peapack-Gladstone Financial

A number of institutional investors have recently bought and sold shares of PGC. Royal Bank of Canada increased its holdings in shares of Peapack-Gladstone Financial by 73.2% during the first quarter. Royal Bank of Canada now owns 1,252 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 529 shares during the period. Parallel Advisors LLC boosted its stake in shares of Peapack-Gladstone Financial by 171.9% in the first quarter. Parallel Advisors LLC now owns 1,841 shares of the financial services provider’s stock valued at $65,000 after buying an additional 1,164 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Peapack-Gladstone Financial by 431.5% in the fourth quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock valued at $104,000 after buying an additional 3,059 shares during the period. OP Asset Management Ltd bought a new stake in shares of Peapack-Gladstone Financial in the first quarter valued at approximately $116,000. Finally, Aquatic Capital Management LLC grew its position in Peapack-Gladstone Financial by 23.1% during the third quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock worth $145,000 after buying an additional 985 shares in 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.