John P. Babcock Sells 2,000 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $28.30, for a total transaction of $56,600.00. Following the completion of the transaction, the executive vice president now directly owns 45,620 shares of the company’s stock, valued at approximately $1,291,046. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of PGC stock opened at $28.59 on Friday. The company has a 50-day moving average price of $27.97. Peapack-Gladstone Financial Co. has a twelve month low of $23.96 and a twelve month high of $35.19. The firm has a market cap of $546.83 million, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.41.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Friday, April 26th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. Peapack-Gladstone Financial had a net margin of 21.04% and a return on equity of 9.73%. The firm had revenue of $41.74 million during the quarter, compared to the consensus estimate of $41.58 million. On average, sell-side analysts predict that Peapack-Gladstone Financial Co. will post 2.35 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virginia Retirement Systems ET AL increased its stake in shares of Peapack-Gladstone Financial by 3.4% during the 1st quarter. Virginia Retirement Systems ET AL now owns 12,000 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 400 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Peapack-Gladstone Financial by 1.6% during the 1st quarter. Rhumbline Advisers now owns 26,318 shares of the financial services provider’s stock valued at $690,000 after acquiring an additional 417 shares during the last quarter. US Bancorp DE increased its stake in shares of Peapack-Gladstone Financial by 4.2% during the 1st quarter. US Bancorp DE now owns 11,149 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 445 shares during the last quarter. Strs Ohio increased its stake in shares of Peapack-Gladstone Financial by 3.3% during the 1st quarter. Strs Ohio now owns 24,700 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Peapack-Gladstone Financial by 422.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,331 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,076 shares during the last quarter. 71.57% of the stock is owned by institutional investors.

PGC has been the subject of several analyst reports. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $36.50.

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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