Shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) have received an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $35.00.
Several research analysts have weighed in on PGC shares. ValuEngine downgraded Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. DA Davidson initiated coverage on shares of Peapack-Gladstone Financial in a research report on Monday, November 25th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, BidaskClub downgraded shares of Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.
NASDAQ:PGC traded down $0.24 on Tuesday, reaching $29.43. 31,368 shares of the company’s stock traded hands, compared to its average volume of 64,763. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a 50-day simple moving average of $29.31 and a 200-day simple moving average of $28.26. The firm has a market cap of $569.45 million, a PE ratio of 12.74, a P/E/G ratio of 2.16 and a beta of 0.99. Peapack-Gladstone Financial has a 12 month low of $23.96 and a 12 month high of $30.89.
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were issued a $0.05 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. Peapack-Gladstone Financial’s dividend payout ratio (DPR) is 8.66%.
In related news, EVP John P. Babcock sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $28.91, for a total value of $57,820.00. Following the sale, the executive vice president now owns 41,620 shares in the company, valued at $1,203,234.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric H. Waser sold 1,500 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $30.08, for a total transaction of $45,120.00. Following the sale, the executive vice president now directly owns 15,441 shares in the company, valued at approximately $464,465.28. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $398,695 over the last quarter. 4.13% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Siena Capital Partners GP LLC increased its holdings in shares of Peapack-Gladstone Financial by 0.8% in the 2nd quarter. Siena Capital Partners GP LLC now owns 153,209 shares of the financial services provider’s stock worth $4,308,000 after buying an additional 1,200 shares during the last quarter. Creative Planning purchased a new stake in Peapack-Gladstone Financial during the 2nd quarter valued at $207,000. Aperio Group LLC raised its holdings in Peapack-Gladstone Financial by 5.1% during the 2nd quarter. Aperio Group LLC now owns 12,112 shares of the financial services provider’s stock valued at $341,000 after buying an additional 585 shares during the period. Swiss National Bank lifted its position in Peapack-Gladstone Financial by 2.7% in the second quarter. Swiss National Bank now owns 30,600 shares of the financial services provider’s stock worth $860,000 after buying an additional 800 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Peapack-Gladstone Financial by 9.7% in the second quarter. Gamco Investors INC. ET AL now owns 11,300 shares of the financial services provider’s stock worth $318,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.
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 Private Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.
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