Peapack-Gladstone Financial Co. (NASDAQ:PGC) Director F Duffield Meyercord Purchases 6,316 Shares

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

Peapack-Gladstone Financial Stock Performance

Shares of NASDAQ:PGC opened at $29.06 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $511.34 million, a PE ratio of 15.71 and a beta of 1.00. The firm’s 50 day simple moving average is $31.48 and its 200-day simple moving average is $31.94. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate 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, equities analysts predict that Peapack-Gladstone Financial Co. will post 2.71 EPS for the current year.

Institutional Trading of Peapack-Gladstone Financial

Hedge funds have recently bought and sold shares of the stock. Synergy Asset Management LLC lifted its stake in shares of Peapack-Gladstone Financial by 7.9% during the 4th quarter. Synergy Asset Management LLC now owns 349,414 shares of the financial services provider’s stock worth $11,199,000 after purchasing an additional 25,687 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Peapack-Gladstone Financial by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 147,502 shares of the financial services provider’s stock worth $4,043,000 after purchasing an additional 8,393 shares in the last quarter. State Street Corp raised its holdings in Peapack-Gladstone Financial by 2.4% in 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 in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Peapack-Gladstone Financial during the fourth quarter valued at about $3,590,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at about $532,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price objective 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.