Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Stuart M. Vorcheimer Sells 4,608 Shares of Stock

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Stuart M. Vorcheimer sold 4,608 shares of Peapack-Gladstone Financial stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $24.09, for a total value of $111,006.72. Following the completion of the transaction, the executive vice president now owns 2,205 shares in the company, valued at approximately $53,118.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Peapack-Gladstone Financial Price Performance

NASDAQ:PGC opened at $23.75 on Thursday. Peapack-Gladstone Financial Co. has a 52 week low of $21.58 and a 52 week high of $31.49. The company has a market capitalization of $422.04 million, a P/E ratio of 10.89 and a beta of 0.99. The stock’s fifty day moving average is $23.49 and its two-hundred day moving average is $25.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.23.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $53.08 million for the quarter, compared to analyst estimates of $53.69 million. Peapack-Gladstone Financial had a return on equity of 7.23% and a net margin of 10.11%. Equities analysts expect that Peapack-Gladstone Financial Co. will post 2.04 EPS for the current year.

Peapack-Gladstone Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. Peapack-Gladstone Financial’s payout ratio is currently 9.17%.

Institutional Trading of Peapack-Gladstone Financial

Several institutional investors have recently modified their holdings of PGC. Price T Rowe Associates Inc. MD raised its position in Peapack-Gladstone Financial by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 628 shares during the last quarter. Swiss National Bank raised its stake in shares of Peapack-Gladstone Financial by 2.6% during the 3rd quarter. Swiss National Bank now owns 35,700 shares of the financial services provider’s stock worth $916,000 after buying an additional 900 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Peapack-Gladstone Financial during the 3rd quarter worth $25,000. Trexquant Investment LP increased its stake in Peapack-Gladstone Financial by 9.6% in the 3rd quarter. Trexquant Investment LP now owns 13,975 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 1,222 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Peapack-Gladstone Financial during the 4th quarter worth $77,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PGC shares. Piper Sandler downgraded Peapack-Gladstone Financial from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods cut their target price on shares of Peapack-Gladstone Financial from $30.50 to $29.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, TheStreet cut Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a report on Friday, February 23rd.

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.