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

Peapack-Gladstone Financial Co. (NASDAQ:PGC) CEO Douglas L. Kennedy sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $28.79, for a total transaction of $143,950.00. Following the completion of the sale, the chief executive officer now directly owns 40,409 shares of the company’s stock, 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 SEC, which is accessible through the SEC website.

Peapack-Gladstone Financial Price Performance

Shares of Peapack-Gladstone Financial stock opened at $29.58 on Tuesday. Peapack-Gladstone Financial Co. has a 52 week low of $20.30 and a 52 week high of $37.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock has a market cap of $520.49 million, a PE ratio of 15.99 and a beta of 1.00. The company’s 50-day moving average price is $31.83 and its two-hundred day moving average price is $31.83.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. As a group, sell-side analysts anticipate that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PGC. Dimensional Fund Advisors LP raised its holdings in shares of Peapack-Gladstone Financial by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider’s stock valued at $35,811,000 after acquiring an additional 10,221 shares during the period. Vanguard Group Inc. grew its position in Peapack-Gladstone Financial by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider’s stock worth $30,037,000 after purchasing an additional 62,803 shares in the last quarter. Boston Partners lifted its holdings in shares of Peapack-Gladstone Financial by 2.3% in the fourth quarter. Boston Partners now owns 781,826 shares of the financial services provider’s stock valued at $25,046,000 after purchasing an additional 17,220 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Peapack-Gladstone Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider’s stock worth $20,975,000 after buying an additional 22,805 shares during the period. Finally, State Street Corp boosted its position in shares of Peapack-Gladstone Financial by 2.4% in the third quarter. State Street Corp now owns 524,231 shares of the financial services provider’s stock worth $14,369,000 after buying an additional 12,332 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price target on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research note 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.