Peapack-Gladstone Financial (NASDAQ:PGC) Stock Passes Below Two Hundred Day Moving Average of $25.60

Peapack-Gladstone Financial Co. (NASDAQ:PGC) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.60 and traded as low as $23.98. Peapack-Gladstone Financial shares last traded at $24.50, with a volume of 103,685 shares.

Wall Street Analyst Weigh In

PGC has been the subject of a number of recent analyst reports. TheStreet cut Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a research report on Friday, February 23rd. Keefe, Bruyette & Woods decreased their price objective on shares of Peapack-Gladstone Financial from $33.50 to $30.50 and set an “outperform” rating for the company in a report on Friday, April 5th.

Peapack-Gladstone Financial Price Performance

The stock has a fifty day simple moving average of $23.64 and a 200-day simple moving average of $25.60. The stock has a market cap of $434.88 million, a price-to-earnings ratio of 9.04 and a beta of 0.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). Peapack-Gladstone Financial had a net margin of 12.94% and a return on equity of 9.03%. The company had revenue of $54.27 million during the quarter, compared to the consensus estimate of $54.91 million. As a group, equities research analysts expect that Peapack-Gladstone Financial Co. will post 2.21 EPS for the current year.

Insider Buying and Selling

In other news, EVP Gregory Martin Smith sold 4,500 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $30.02, for a total value of $135,090.00. Following the completion of the transaction, the executive vice president now owns 15,703 shares in the company, valued at approximately $471,404.06. The sale was disclosed in a filing with the SEC, which is available at this link. 7.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peapack-Gladstone Financial

Several large investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Peapack-Gladstone Financial in the third quarter valued at $25,000. Quest Partners LLC bought a new stake in shares of Peapack-Gladstone Financial in the 4th quarter worth about $77,000. Denali Advisors LLC acquired a new stake in shares of Peapack-Gladstone Financial during the 1st quarter worth about $204,000. SG Americas Securities LLC lifted its holdings in Peapack-Gladstone Financial by 133.8% during the 3rd quarter. SG Americas Securities LLC now owns 8,790 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 5,031 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in Peapack-Gladstone Financial by 9.6% in the third quarter. Trexquant Investment LP now owns 13,975 shares of the financial services provider’s stock valued at $358,000 after buying an additional 1,222 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors.

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.