Peapack-Gladstone Financial Corp. (PGC) EVP Vincent A. Spero Sells 3,000 Shares
Peapack-Gladstone Financial Corp. (NASDAQ:PGC) EVP Vincent A. Spero sold 3,000 shares of Peapack-Gladstone Financial Corp. stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $26.28, for a total transaction of $78,840.00. Following the transaction, the executive vice president now directly owns 59,290 shares of the company’s stock, valued at $1,558,141.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Peapack-Gladstone Financial Corp. (NASDAQ:PGC) traded down 0.08% during mid-day trading on Wednesday, hitting $26.46. 68,623 shares of the stock were exchanged. The company has a 50-day moving average price of $23.08 and a 200-day moving average price of $20.60. The stock has a market cap of $435.58 million, a price-to-earnings ratio of 18.31 and a beta of 0.87. Peapack-Gladstone Financial Corp. has a 12 month low of $16.17 and a 12 month high of $27.83.
Peapack-Gladstone Financial Corp. (NASDAQ:PGC) last posted its quarterly earnings data on Friday, October 28th. The financial services provider reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.05. Peapack-Gladstone Financial Corp. had a return on equity of 8.63% and a net margin of 16.69%. The firm earned $31.80 million during the quarter. Equities analysts expect that Peapack-Gladstone Financial Corp. will post $1.60 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. 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 0.76%. The ex-dividend date is Tuesday, November 8th. Peapack-Gladstone Financial Corp.’s dividend payout ratio is currently 13.79%.
Separately, Sandler O’Neill raised shares of Peapack-Gladstone Financial Corp. from a “hold” rating to a “buy” rating and boosted their target price for the company from $23.00 to $25.00 in a research note on Monday, November 7th.
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About Peapack-Gladstone Financial Corp.
Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. The Bank provides private banking services to businesses, non-profits and consumers through its private banking locations in Bedminster, Morristown, Princeton and Teaneck, New Jersey; wealth management division, and branch network in Somerset, Morris, Hunterdon, Middlesex and Union counties.
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