Peapack-Gladstone Financial (NASDAQ:PGC) EVP Maureen Hemhauser Sells 2,297 Shares

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Maureen Hemhauser sold 2,297 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $45.32, for a total value of $104,100.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Peapack-Gladstone Financial Trading Down 0.4%

Shares of PGC stock traded down $0.17 on Tuesday, hitting $44.99. The stock had a trading volume of 45,296 shares, compared to its average volume of 149,771. Peapack-Gladstone Financial Corporation has a twelve month low of $24.71 and a twelve month high of $49.14. The company has a fifty day moving average price of $45.88 and a two-hundred day moving average price of $42.68. The firm has a market cap of $797.76 million, a P/E ratio of 15.62 and a beta of 0.70.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.03). Peapack-Gladstone Financial had a net margin of 11.09% and a return on equity of 7.82%. The company had revenue of $86.05 million during the quarter, compared to the consensus estimate of $85.17 million. On average, analysts expect that Peapack-Gladstone Financial Corporation will post 3.58 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, August 13th. Peapack-Gladstone Financial’s payout ratio is currently 6.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Peapack-Gladstone Financial in a research report on Friday, August 7th. Piper Sandler lifted their target price on Peapack-Gladstone Financial from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods reissued a “moderate buy” rating and issued a $56.00 target price (up from $55.00) on shares of Peapack-Gladstone Financial in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Raymond James Financial increased their target price on shares of Peapack-Gladstone Financial from $49.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $56.33.

Institutional Trading of Peapack-Gladstone Financial

Several large investors have recently bought and sold shares of PGC. Royal Bank of Canada lifted its holdings in shares of Peapack-Gladstone Financial by 73.2% in the first quarter. Royal Bank of Canada now owns 1,252 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 529 shares during the last quarter. Parallel Advisors LLC lifted its stake in Peapack-Gladstone Financial by 171.9% in the 1st quarter. Parallel Advisors LLC now owns 1,841 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,164 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Peapack-Gladstone Financial in the 2nd quarter valued at approximately $119,000. OP Asset Management Ltd bought a new stake in shares of Peapack-Gladstone Financial during the first quarter worth $116,000. Finally, Quantbot Technologies LP bought a new stake in shares of Peapack-Gladstone Financial during the second quarter worth $176,000. 72.75% of the stock is owned by institutional investors and hedge funds.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation is a bank holding company headquartered in Bedminster, New Jersey. Its principal subsidiary, Peapack-Gladstone Bank, provides banking and wealth management services to businesses, individuals, families and nonprofit organizations.

The bank’s offerings include commercial and residential lending, business and personal deposit accounts, cash management, treasury services, private banking and other financial solutions. Through its wealth management business, it provides investment management, financial planning, fiduciary, trust and related advisory services.

Founded in 1921, Peapack-Gladstone Bank has historically focused on communities in New Jersey and the broader New York metropolitan area, including clients in the New York City market.