Peapack-Gladstone Financial Co. (PGC) Director Purchases $33,250.00 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director Steven A. Kass bought 1,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were purchased at an average price of $33.25 per share, for a total transaction of $33,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PGC traded down $0.16 during trading on Friday, reaching $27.99. 3,418 shares of the stock were exchanged, compared to its average volume of 73,165. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $524.14 million, a price-to-earnings ratio of 14.43 and a beta of 0.97. Peapack-Gladstone Financial Co. has a 1 year low of $25.82 and a 1 year high of $38.00.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Friday, October 26th. The financial services provider reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.03). The firm had revenue of $39.13 million for the quarter, compared to analysts’ expectations of $42.08 million. Peapack-Gladstone Financial had a return on equity of 10.02% and a net margin of 22.25%. On average, analysts predict that Peapack-Gladstone Financial Co. will post 2.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, November 8th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. Peapack-Gladstone Financial’s dividend payout ratio is currently 10.31%.

Several large investors have recently modified their holdings of the company. Strs Ohio lifted its position in shares of Peapack-Gladstone Financial by 8.6% in the second quarter. Strs Ohio now owns 23,900 shares of the financial services provider’s stock valued at $826,000 after acquiring an additional 1,900 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of Peapack-Gladstone Financial by 16.8% in the third quarter. Alps Advisors Inc. now owns 15,396 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 2,220 shares in the last quarter. Salzhauer Michael lifted its position in shares of Peapack-Gladstone Financial by 2.0% in the second quarter. Salzhauer Michael now owns 114,772 shares of the financial services provider’s stock valued at $3,970,000 after acquiring an additional 2,300 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Peapack-Gladstone Financial by 9.7% in the first quarter. Wells Fargo & Company MN now owns 26,935 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 2,386 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Peapack-Gladstone Financial by 12.1% in the second quarter. Swiss National Bank now owns 29,700 shares of the financial services provider’s stock valued at $1,027,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

A number of analysts have commented on the company. Zacks Investment Research downgraded Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $36.00 target price on shares of Peapack-Gladstone Financial in a research report on Wednesday, October 31st. BidaskClub downgraded Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. ValuEngine downgraded Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, FIG Partners reiterated an “outperform” rating on shares of Peapack-Gladstone Financial in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $37.50.

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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 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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