Peapack-Gladstone Financial (NASDAQ:PGC) EVP Sells $74,125.00 in Stock

Key Points

• Lisa Chalkan, Executive Vice President of Peapack-Gladstone Financial, sold 2,500 shares at an average price of $29.65, resulting in a total value of $74,125 and a 9.58% decrease in ownership.
• Peapack-Gladstone Financial's stock traded down 2.8% to $29.11, with notable metrics including a debt-to-equity ratio of 0.16 and a market cap of $513.73 million.
• The company reported a Q2 EPS of $0.45, missing analyst expectations, and announced a quarterly dividend of $0.05 with an annualized yield of 0.7%.

Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Get Free Report) EVP Lisa Chalkan sold 2,500 shares of Peapack-Gladstone Financial stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $29.65, for a total value of $74,125.00. Following the sale, the executive vice president directly owned 23,602 shares in the company, valued at approximately $699,799.30. This trade represents a 9.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Peapack-Gladstone Financial Stock Performance

PGC stock traded up $0.01 during trading on Monday, reaching $29.07. 135,193 shares of the stock were exchanged, compared to its average volume of 111,280. Peapack-Gladstone Financial Corporation has a twelve month low of $23.96 and a twelve month high of $37.88. The company has a market capitalization of $513.09 million, a P/E ratio of 15.89 and a beta of 0.92. The stock has a 50 day simple moving average of $27.72 and a 200-day simple moving average of $27.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The financial services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.16). The business had revenue of $69.74 million for the quarter, compared to the consensus estimate of $69.77 million. Peapack-Gladstone Financial had a return on equity of 5.25% and a net margin of 7.62%. As a group, sell-side analysts anticipate that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, August 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. Peapack-Gladstone Financial's dividend payout ratio (DPR) is currently 10.93%.

Institutional Trading of Peapack-Gladstone Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. lifted its stake in shares of Peapack-Gladstone Financial by 19.7% in the 1st quarter. Brown Advisory Inc. now owns 592,666 shares of the financial services provider's stock valued at $16,832,000 after purchasing an additional 97,349 shares during the period. Philadelphia Trust Co. lifted its stake in shares of Peapack-Gladstone Financial by 14.0% in the 1st quarter. Philadelphia Trust Co. now owns 372,560 shares of the financial services provider's stock valued at $10,581,000 after purchasing an additional 45,825 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Peapack-Gladstone Financial by 168.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 58,335 shares of the financial services provider's stock valued at $1,648,000 after purchasing an additional 36,570 shares during the period. Nuveen LLC acquired a new position in shares of Peapack-Gladstone Financial in the 1st quarter valued at $983,000. Finally, SG Americas Securities LLC lifted its stake in shares of Peapack-Gladstone Financial by 344.0% in the 1st quarter. SG Americas Securities LLC now owns 43,539 shares of the financial services provider's stock valued at $1,237,000 after purchasing an additional 33,733 shares during the period. Institutional investors own 72.75% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Peapack-Gladstone Financial from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods cut their price target on shares of Peapack-Gladstone Financial from $38.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $36.33.

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.