Peapack-Gladstone Financial (NASDAQ:PGC) Shares Cross Above Two Hundred Day Moving Average of $33.92

Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGCGet Rating) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.92 and traded as high as $41.41. Peapack-Gladstone Financial shares last traded at $40.91, with a volume of 28,404 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Hovde Group lifted their price target on Peapack-Gladstone Financial to $48.00 in a research report on Thursday, November 17th. Piper Sandler dropped their price target on Peapack-Gladstone Financial to $41.00 in a research report on Wednesday, October 5th. Finally, StockNews.com downgraded Peapack-Gladstone Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 25th.

Peapack-Gladstone Financial Price Performance

The company has a market cap of $733.11 million, a price-to-earnings ratio of 11.18 and a beta of 1.07. The company has a fifty day moving average price of $37.23 and a two-hundred day moving average price of $33.92. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.27.

Peapack-Gladstone Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Thursday, November 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date is Wednesday, November 9th. Peapack-Gladstone Financial’s dividend payout ratio is 5.46%.

Insider Activity at Peapack-Gladstone Financial

In related news, CAO Francesco S. Rossi sold 1,200 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $39.75, for a total value of $47,700.00. Following the sale, the chief accounting officer now owns 2,036 shares of the company’s stock, valued at approximately $80,931. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its stake in Peapack-Gladstone Financial by 1,576.8% in the third quarter. Quadrant Capital Group LLC now owns 939 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 883 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Peapack-Gladstone Financial during the first quarter worth $35,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Peapack-Gladstone Financial during the third quarter worth $54,000. Amalgamated Bank bought a new stake in shares of Peapack-Gladstone Financial during the first quarter worth $75,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Peapack-Gladstone Financial by 355.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,427 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 1,894 shares during the last quarter. Institutional investors and hedge funds own 74.53% 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.

Further Reading

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