Peapack-Gladstone Financial (NASDAQ:PGC) EVP Maureen Hemhauser Sells 5,272 Shares of Stock

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Maureen Hemhauser sold 5,272 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $35.59, for a total value of $187,630.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Peapack-Gladstone Financial Stock Down 2.3%

Shares of Peapack-Gladstone Financial stock opened at $34.68 on Wednesday. The stock has a market capitalization of $608.98 million, a price-to-earnings ratio of 17.88 and a beta of 0.73. Peapack-Gladstone Financial Corporation has a twelve month low of $23.96 and a twelve month high of $35.68. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $29.73 and its 200-day simple moving average is $28.04.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Peapack-Gladstone Financial had a return on equity of 5.51% and a net margin of 7.91%.The firm had revenue of $77.67 million during the quarter, compared to the consensus estimate of $73.69 million. Equities research analysts forecast that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, February 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Peapack-Gladstone Financial’s dividend payout ratio is currently 10.31%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research raised shares of Peapack-Gladstone Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Piper Sandler boosted their price objective on Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Peapack-Gladstone Financial has an average rating of “Moderate Buy” and an average price target of $37.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of Peapack-Gladstone Financial by 338.9% during the 2nd quarter. CWM LLC now owns 913 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 705 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Peapack-Gladstone Financial by 431.5% during the fourth quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 3,059 shares during the last quarter. Aquatic Capital Management LLC boosted its position in shares of Peapack-Gladstone Financial by 23.1% in the 3rd quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 985 shares during the period. Quantbot Technologies LP increased its stake in Peapack-Gladstone Financial by 68.0% in the 3rd quarter. Quantbot Technologies LP now owns 7,381 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 2,987 shares in the last quarter. Finally, Inscription Capital LLC purchased a new position in Peapack-Gladstone Financial in the 4th quarter worth about $210,000. 72.75% of the stock is currently owned by institutional investors.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.