Peapack-Gladstone Financial Co. (NASDAQ:PGC – Get Rating) Director Steven A. Kass purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were purchased at an average price of $31.11 per share, for a total transaction of $31,110.00. Following the acquisition, the director now directly owns 4,457 shares of the company’s stock, valued at $138,657.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
PGC stock opened at $31.67 on Friday. Peapack-Gladstone Financial Co. has a 52-week low of $28.89 and a 52-week high of $38.60. The company’s 50 day simple moving average is $34.86 and its 200-day simple moving average is $35.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market capitalization of $576.68 million, a P/E ratio of 10.66 and a beta of 1.12.
Peapack-Gladstone Financial (NASDAQ:PGC – Get Rating) last released its quarterly earnings results on Friday, April 29th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). Peapack-Gladstone Financial had a net margin of 24.20% and a return on equity of 10.48%. Sell-side analysts predict that Peapack-Gladstone Financial Co. will post 3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, May 11th. This represents a $0.20 annualized dividend and a yield of 0.63%. Peapack-Gladstone Financial’s dividend payout ratio is presently 6.73%.
Separately, StockNews.com assumed coverage on shares of Peapack-Gladstone Financial in a report on Thursday, March 31st. They set a “buy” rating on the stock.
A number of institutional investors have recently added to or reduced their stakes in PGC. Morgan Stanley increased its stake in Peapack-Gladstone Financial by 60.4% in the 2nd quarter. Morgan Stanley now owns 4,680 shares of the financial services provider’s stock valued at $146,000 after buying an additional 1,762 shares during the period. SG Americas Securities LLC acquired a new position in Peapack-Gladstone Financial in the 3rd quarter valued at approximately $397,000. Barclays PLC increased its stake in Peapack-Gladstone Financial by 17.0% in the 3rd quarter. Barclays PLC now owns 7,650 shares of the financial services provider’s stock valued at $256,000 after buying an additional 1,110 shares during the period. Citigroup Inc. increased its stake in Peapack-Gladstone Financial by 84.6% in the 3rd quarter. Citigroup Inc. now owns 2,315 shares of the financial services provider’s stock valued at $77,000 after buying an additional 1,061 shares during the period. Finally, IndexIQ Advisors LLC increased its stake in Peapack-Gladstone Financial by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 14,560 shares of the financial services provider’s stock valued at $486,000 after buying an additional 1,459 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.
About Peapack-Gladstone Financial (Get Rating)
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.
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