Douglas L. Kennedy Sells 20,000 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 20,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $28.91, for a total transaction of $578,200.00. Following the completion of the transaction, the chief executive officer now directly owns 43,703 shares of the company’s stock, valued at $1,263,453.73. The trade was a 31.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Peapack-Gladstone Financial Stock Up 0.7 %

Peapack-Gladstone Financial stock opened at $29.28 on Thursday. The business’s 50-day simple moving average is $31.88 and its two-hundred day simple moving average is $31.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $515.21 million, a PE ratio of 15.83 and a beta of 1.00. Peapack-Gladstone Financial Co. has a fifty-two week low of $20.30 and a fifty-two week high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. Equities analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price target on shares of Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PGC. Public Employees Retirement System of Ohio grew its position in Peapack-Gladstone Financial by 34.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 8,517 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 2,162 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Peapack-Gladstone Financial by 8.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,467 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 2,272 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Peapack-Gladstone Financial by 41.1% in the fourth quarter. Nuveen Asset Management LLC now owns 48,831 shares of the financial services provider’s stock valued at $1,565,000 after acquiring an additional 14,220 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in Peapack-Gladstone Financial in the 4th quarter worth approximately $299,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Peapack-Gladstone Financial by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,549 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 72.75% of the company’s stock.

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