Douglas L. Kennedy Sells 5,000 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 5,000 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $28.79, for a total value of $143,950.00. Following the completion of the transaction, the chief executive officer now directly owns 40,409 shares in the company, valued at approximately $1,163,375.11. This represents a 11.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Peapack-Gladstone Financial Stock Down 1.4 %

NASDAQ PGC opened at $29.18 on Wednesday. Peapack-Gladstone Financial Co. has a twelve month low of $20.30 and a twelve month high of $37.88. 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 stock has a market cap of $513.45 million, a PE ratio of 15.77 and a beta of 1.00. The firm has a 50-day simple moving average of $31.78 and a 200 day simple moving average of $31.85.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data 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 return on equity of 5.57% and a net margin of 8.11%. On average, research analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Hedge Funds Weigh In On Peapack-Gladstone Financial

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new position in Peapack-Gladstone Financial in the third quarter worth about $959,000. Algert Global LLC grew its stake in shares of Peapack-Gladstone Financial by 165.8% in the 3rd quarter. Algert Global LLC now owns 24,558 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 15,320 shares during the period. FMR LLC raised its holdings in shares of Peapack-Gladstone Financial by 27.1% in the 3rd quarter. FMR LLC now owns 28,358 shares of the financial services provider’s stock worth $777,000 after buying an additional 6,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Peapack-Gladstone Financial by 108.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,195 shares of the financial services provider’s stock worth $718,000 after buying an additional 13,623 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Peapack-Gladstone Financial in the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

Analyst Ratings Changes

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

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.