Peapack-Gladstone Financial (NASDAQ:PGC) EVP Lisa Chalkan Sells 1,100 Shares

Peapack-Gladstone Financial Corporation (NASDAQ:PGC) EVP Lisa Chalkan sold 1,100 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $47.60, for a total value of $52,360.00. Following the completion of the sale, the executive vice president owned 26,075 shares of the company’s stock, valued at approximately $1,241,170. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Peapack-Gladstone Financial Stock Down 0.7%

PGC stock opened at $47.33 on Wednesday. Peapack-Gladstone Financial Corporation has a twelve month low of $24.42 and a twelve month high of $48.31. The firm has a market cap of $838.69 million, a price-to-earnings ratio of 19.08 and a beta of 0.72. The business’s fifty day simple moving average is $43.39 and its two-hundred day simple moving average is $36.42.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.66 by $0.14. The company had revenue of $82.49 million for the quarter, compared to the consensus estimate of $79.17 million. Peapack-Gladstone Financial had a net margin of 9.60% and a return on equity of 6.75%. Research analysts expect that Peapack-Gladstone Financial Corporation will post 3.76 EPS for the current year.

Hedge Funds Weigh In On Peapack-Gladstone Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Salzhauer Michael grew its holdings in Peapack-Gladstone Financial by 5.7% in the fourth quarter. Salzhauer Michael now owns 269,242 shares of the financial services provider’s stock worth $7,498,000 after purchasing an additional 14,612 shares during the last quarter. Greenwich Wealth Management LLC purchased a new stake in shares of Peapack-Gladstone Financial during the 4th quarter valued at $418,000. PL Capital Advisors LLC acquired a new stake in shares of Peapack-Gladstone Financial in the 4th quarter worth $1,267,000. PNC Financial Services Group Inc. boosted its position in shares of Peapack-Gladstone Financial by 0.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 65,766 shares of the financial services provider’s stock worth $1,832,000 after purchasing an additional 500 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Peapack-Gladstone Financial by 5.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 63,310 shares of the financial services provider’s stock worth $1,763,000 after buying an additional 3,200 shares during the last quarter. 72.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PGC shares. Weiss Ratings upgraded Peapack-Gladstone Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Zacks Research raised Peapack-Gladstone Financial from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Piper Sandler upped their target price on Peapack-Gladstone Financial from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, Peapack-Gladstone Financial has an average rating of “Buy” and a consensus target price of $47.00.

About Peapack-Gladstone Financial

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.