Peapack-Gladstone Financial (NASDAQ:PGC) EVP Lisa Chalkan Sells 2,500 Shares

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Lisa Chalkan sold 2,500 shares of Peapack-Gladstone Financial stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $29.65, for a total value of $74,125.00. Following the completion of the transaction, the executive vice president directly owned 23,602 shares in the company, valued at $699,799.30. This represents a 9.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Peapack-Gladstone Financial Trading Down 2.9%

NASDAQ:PGC opened at $29.06 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.96. Peapack-Gladstone Financial Corporation has a fifty-two week low of $23.96 and a fifty-two week high of $37.88. The stock’s 50-day moving average is $27.74 and its two-hundred day moving average is $27.86. The stock has a market cap of $512.85 million, a PE ratio of 15.88 and a beta of 0.92.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Monday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.16). Peapack-Gladstone Financial had a net margin of 7.62% and a return on equity of 5.25%. The business had revenue of $69.74 million for the quarter, compared to analysts’ expectations of $69.77 million. As a group, equities research analysts forecast that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 7th. Peapack-Gladstone Financial’s payout ratio is 10.93%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Peapack-Gladstone Financial by 4.6% during the first quarter. Victory Capital Management Inc. now owns 37,200 shares of the financial services provider’s stock worth $1,056,000 after buying an additional 1,633 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Peapack-Gladstone Financial by 344.0% during the first quarter. SG Americas Securities LLC now owns 43,539 shares of the financial services provider’s stock worth $1,237,000 after buying an additional 33,733 shares during the last quarter. Salzhauer Michael lifted its holdings in shares of Peapack-Gladstone Financial by 9.3% during the first quarter. Salzhauer Michael now owns 161,802 shares of the financial services provider’s stock worth $4,595,000 after buying an additional 13,708 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Peapack-Gladstone Financial by 6,579.2% during the first quarter. GAMMA Investing LLC now owns 14,427 shares of the financial services provider’s stock worth $410,000 after buying an additional 14,211 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Peapack-Gladstone Financial by 41.1% during the fourth quarter. Nuveen Asset Management LLC now owns 48,831 shares of the financial services provider’s stock worth $1,565,000 after buying an additional 14,220 shares during the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on PGC shares. Wall Street Zen raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods lowered their target price on Peapack-Gladstone Financial from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Peapack-Gladstone Financial presently has an average rating of “Buy” and a consensus price target of $36.33.

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.