Insider Selling: Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Sells $287,600.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total transaction of $287,600.00. Following the transaction, the executive vice president now directly owns 39,155 shares of the company’s stock, valued at $1,126,097.80. This represents a 20.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Peapack-Gladstone Financial Price Performance

Shares of PGC opened at $28.66 on Friday. The company has a market capitalization of $504.30 million, a P/E ratio of 15.49 and a beta of 1.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $31.84 and a 200 day moving average of $31.78. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, beating 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%. As a group, equities research analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Peapack-Gladstone Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 valued at $306,000 after buying an additional 380 shares during the last quarter. Jane Street Group LLC raised its stake in Peapack-Gladstone Financial by 1.6% during the 3rd quarter. Jane Street Group LLC now owns 23,998 shares of the financial services provider’s stock valued at $658,000 after buying an additional 387 shares during the last quarter. Victory Capital Management Inc. raised its stake in Peapack-Gladstone Financial by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 35,567 shares of the financial services provider’s stock valued at $1,140,000 after buying an additional 567 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Peapack-Gladstone Financial by 1.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 57,485 shares of the financial services provider’s stock valued at $1,842,000 after buying an additional 750 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Peapack-Gladstone Financial by 2.5% during the 4th quarter. Barclays PLC now owns 34,491 shares of the financial services provider’s stock valued at $1,105,000 after acquiring an additional 835 shares during the period. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised 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 report on Wednesday, December 4th.

About Peapack-Gladstone Financial

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.