Peter D. Horst Acquires 2,500 Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGCGet Rating) Director Peter D. Horst acquired 2,500 shares of Peapack-Gladstone Financial stock in a transaction that occurred on Monday, May 23rd. The stock was purchased at an average cost of $31.49 per share, with a total value of $78,725.00. Following the completion of the purchase, the director now owns 10,848 shares in the company, valued at approximately $341,603.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ:PGC traded up $0.42 during trading hours on Tuesday, hitting $31.90. The company had a trading volume of 2,771 shares, compared to its average volume of 54,611. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $33.34 and a 200 day moving average of $35.04. The company has a market cap of $580.87 million, a P/E ratio of 10.53 and a beta of 1.12. Peapack-Gladstone Financial Co. has a 1 year low of $28.89 and a 1 year high of $38.60.

Peapack-Gladstone Financial (NASDAQ:PGCGet Rating) last issued its earnings results on Friday, April 29th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). Peapack-Gladstone Financial had a net margin of 24.20% and a return on equity of 10.58%. On average, analysts forecast that Peapack-Gladstone Financial Co. will post 3.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, May 11th. Peapack-Gladstone Financial’s payout ratio is currently 6.73%.

Large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Peapack-Gladstone Financial by 0.9% during the 4th quarter. BlackRock Inc. now owns 1,543,265 shares of the financial services provider’s stock worth $54,631,000 after purchasing an additional 13,884 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Peapack-Gladstone Financial by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,225,065 shares of the financial services provider’s stock worth $42,572,000 after purchasing an additional 13,194 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in Peapack-Gladstone Financial by 3.1% during the 4th quarter. Peapack Gladstone Financial Corp now owns 967,923 shares of the financial services provider’s stock valued at $34,265,000 after acquiring an additional 28,899 shares during the period. Banc Funds Co. LLC boosted its holdings in Peapack-Gladstone Financial by 3.0% during the 1st quarter. Banc Funds Co. LLC now owns 797,890 shares of the financial services provider’s stock valued at $27,727,000 after acquiring an additional 23,000 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Peapack-Gladstone Financial by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 684,764 shares of the financial services provider’s stock valued at $22,843,000 after acquiring an additional 78,951 shares during the period. Institutional investors own 73.15% of the company’s stock.

PGC has been the subject of several recent research reports. Zacks Investment Research raised Peapack-Gladstone Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday. StockNews.com initiated coverage on Peapack-Gladstone Financial in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

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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