Peapack-Gladstone Financial (NASDAQ:PGC) Coverage Initiated by Analysts at Raymond James

Raymond James started coverage on shares of Peapack-Gladstone Financial (NASDAQ:PGC - Free Report) in a report released on Friday, Marketbeat reports. The brokerage issued a strong-buy rating and a $39.00 price target on the financial services provider's stock.

Peapack-Gladstone Financial Stock Performance

Shares of Peapack-Gladstone Financial stock traded up $0.04 on Friday, reaching $25.73. 47,350 shares of the stock were exchanged, compared to its average volume of 101,371. Peapack-Gladstone Financial has a 1-year low of $20.30 and a 1-year high of $37.88. The business has a fifty day moving average price of $29.89 and a two-hundred day moving average price of $31.74. The firm has a market capitalization of $452.75 million, a PE ratio of 13.91 and a beta of 0.82. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Peapack-Gladstone Financial had a return on equity of 5.57% and a net margin of 8.11%. As a group, research analysts anticipate that Peapack-Gladstone Financial will post 2.71 earnings per share for the current fiscal year.

Insider Activity at Peapack-Gladstone Financial

In related news, CEO Douglas L. Kennedy sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $28.91, for a total value of $578,200.00. Following the sale, the chief executive officer now owns 43,703 shares of the company's stock, valued at approximately $1,263,453.73. This represents a 31.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory Martin Smith sold 17,633 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $31.95, for a total value of $563,374.35. Following the completion of the transaction, the executive vice president now directly owns 297 shares of the company's stock, valued at approximately $9,489.15. This trade represents a 98.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,633 shares of company stock valued at $1,716,024 in the last ninety days. Corporate insiders own 7.63% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Peapack-Gladstone Financial by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,117,333 shares of the financial services provider's stock worth $35,811,000 after acquiring an additional 10,221 shares during the last quarter. Vanguard Group Inc. boosted its stake in Peapack-Gladstone Financial by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 937,205 shares of the financial services provider's stock worth $30,037,000 after buying an additional 62,803 shares during the last quarter. Boston Partners increased its stake in shares of Peapack-Gladstone Financial by 2.3% during the 4th quarter. Boston Partners now owns 781,826 shares of the financial services provider's stock valued at $25,046,000 after acquiring an additional 17,220 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Peapack-Gladstone Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 654,450 shares of the financial services provider's stock worth $20,975,000 after acquiring an additional 22,805 shares during the last quarter. Finally, State Street Corp increased its position in Peapack-Gladstone Financial by 2.4% during the third quarter. State Street Corp now owns 524,231 shares of the financial services provider's stock worth $14,369,000 after purchasing an additional 12,332 shares during the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

About Peapack-Gladstone Financial

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.