Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $28.91, for a total transaction of $57,820.00. Following the sale, the executive vice president now owns 41,620 shares of the company’s stock, valued at approximately $1,203,234.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of PGC stock opened at $29.27 on Friday. Peapack-Gladstone Financial Co. has a 12-month low of $23.96 and a 12-month high of $32.80. The firm has a market capitalization of $562.68 million, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $27.65 and a 200-day moving average of $27.74.
Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). Peapack-Gladstone Financial had a net margin of 20.28% and a return on equity of 9.36%. The firm had revenue of $42.29 million during the quarter, compared to analyst estimates of $42.92 million. Research analysts expect that Peapack-Gladstone Financial Co. will post 2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Wednesday, August 7th. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 8.66%.
Hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its holdings in shares of Peapack-Gladstone Financial by 2.7% in the 2nd quarter. Swiss National Bank now owns 30,600 shares of the financial services provider’s stock valued at $860,000 after buying an additional 800 shares during the period. Pitcairn Co. acquired a new position in shares of Peapack-Gladstone Financial in the 2nd quarter valued at $295,000. Salzhauer Michael grew its holdings in shares of Peapack-Gladstone Financial by 3.6% in the 2nd quarter. Salzhauer Michael now owns 142,615 shares of the financial services provider’s stock valued at $4,010,000 after buying an additional 5,000 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Peapack-Gladstone Financial by 20.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 583,710 shares of the financial services provider’s stock valued at $16,410,000 after buying an additional 97,502 shares during the period. Finally, GW&K Investment Management LLC acquired a new position in shares of Peapack-Gladstone Financial in the 2nd quarter valued at $4,672,000. 72.64% of the stock is owned by institutional investors.
Separately, BidaskClub cut shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Peapack-Gladstone Financial currently has an average rating of “Hold” and a consensus target price of $36.50.
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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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