Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director Acquires $179,627.04 in Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director F Duffield Meyercord acquired 6,316 shares of Peapack-Gladstone Financial stock in a transaction dated Monday, March 31st. The stock was purchased at an average price of $28.44 per share, with a total value of $179,627.04. Following the completion of the purchase, the director now directly owns 140,372 shares of the company’s stock, valued at $3,992,179.68. The trade was a 4.71 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peapack-Gladstone Financial Stock Performance

Shares of PGC stock traded up $0.57 during mid-day trading on Tuesday, reaching $28.97. The stock had a trading volume of 68,206 shares, compared to its average volume of 98,048. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88. The firm has a market cap of $509.76 million, a PE ratio of 15.66 and a beta of 1.00. The firm’s 50 day simple moving average is $31.54 and its 200 day simple moving average is $31.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. On average, analysts forecast that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Institutional investors have recently added to or reduced their stakes in the stock. Aquatic Capital Management LLC acquired a new position in shares of Peapack-Gladstone Financial in the 4th quarter worth approximately $32,000. Albion Financial Group UT bought a new stake in Peapack-Gladstone Financial in the fourth quarter valued at $35,000. Point72 Asset Management L.P. raised its stake in Peapack-Gladstone Financial by 157.5% during the third quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,468 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Peapack-Gladstone Financial during the fourth quarter valued at $112,000. Finally, Quantbot Technologies LP boosted its stake in shares of Peapack-Gladstone Financial by 507.2% in the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 4,930 shares in the last quarter. 72.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price target on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.