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 the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $28.79, for a total transaction of $143,950.00. Following the sale, the chief executive officer now directly owns 40,409 shares in the company, valued at $1,163,375.11. This represents a 11.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Peapack-Gladstone Financial Stock Performance

Shares of NASDAQ:PGC opened at $29.18 on Wednesday. The business has a fifty day moving average of $31.78 and a 200-day moving average of $31.85. The firm has a market cap of $513.45 million, a PE ratio of 15.77 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. 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 earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. On average, equities research analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their target price on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Peapack-Gladstone Financial during the 3rd quarter valued at about $959,000. Algert Global LLC increased its holdings in Peapack-Gladstone Financial by 165.8% in the third 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 last quarter. FMR LLC lifted its stake in Peapack-Gladstone Financial by 27.1% in the third quarter. FMR LLC now owns 28,358 shares of the financial services provider’s stock valued at $777,000 after buying an additional 6,054 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Peapack-Gladstone Financial by 108.4% during the third 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 last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Peapack-Gladstone Financial during the 3rd quarter worth about $211,000. Institutional investors and hedge funds own 72.75% of the company’s stock.

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.