Peapack-Gladstone Financial (NASDAQ:PGC) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.34 and traded as high as $34.68. Peapack-Gladstone Financial shares last traded at $34.51, with a volume of 123,702 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PGC. Weiss Ratings restated a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Thursday, January 22nd. Piper Sandler lifted their target price on shares of Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Peapack-Gladstone Financial Price Performance

The company has a market cap of $606.00 million, a price-to-earnings ratio of 17.79 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $30.33 and a two-hundred day moving average price of $28.34.

Peapack-Gladstone Financial (NASDAQ:PGC) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.69 EPS for the quarter. Peapack-Gladstone Financial had a return on equity of 5.51% and a net margin of 7.91%.The business had revenue of $77.67 million during the quarter. As a group, equities research analysts anticipate that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current fiscal year.

Peapack-Gladstone Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be paid a $0.05 dividend. The ex-dividend date is Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Peapack-Gladstone Financial’s dividend payout ratio is currently 10.31%.

Insider Buying and Selling at Peapack-Gladstone Financial

In related news, EVP Maureen Hemhauser sold 5,272 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $35.59, for a total value of $187,630.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Hedge funds have recently modified their holdings of the stock. CWM LLC boosted its stake in Peapack-Gladstone Financial by 338.9% in the 2nd quarter. CWM LLC now owns 913 shares of the financial services provider’s stock valued at $26,000 after buying an additional 705 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Peapack-Gladstone Financial by 431.5% during the fourth quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 3,059 shares in the last quarter. Aquatic Capital Management LLC lifted its holdings in shares of Peapack-Gladstone Financial by 23.1% during the third quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 985 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Peapack-Gladstone Financial by 68.0% during the third quarter. Quantbot Technologies LP now owns 7,381 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 2,987 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at $206,000. 72.75% of the stock is owned by institutional investors and hedge funds.

Peapack-Gladstone Financial Company Profile

Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs.

Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management.