Peapack-Gladstone Financial (NASDAQ:PGC) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Peapack-Gladstone Financial Corporation (NASDAQ:PGC) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $27.78 and traded as low as $27.58. Peapack-Gladstone Financial shares last traded at $28.20, with a volume of 110,267 shares traded.

Analyst Ratings Changes

PGC has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Peapack-Gladstone Financial in a research note on Saturday, September 27th. Wall Street Zen raised Peapack-Gladstone Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Keefe, Bruyette & Woods cut their target price on Peapack-Gladstone Financial from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Peapack-Gladstone Financial currently has an average rating of “Buy” and an average target price of $36.33.

Peapack-Gladstone Financial Stock Performance

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The company has a market cap of $497.73 million, a P/E ratio of 15.41 and a beta of 0.88. The business has a fifty day moving average of $27.68 and a 200 day moving average of $27.78.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Monday, July 21st. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.16). The business had revenue of $69.74 million for the quarter, compared to the consensus estimate of $69.77 million. Peapack-Gladstone Financial had a net margin of 7.62% and a return on equity of 5.25%. On average, equities analysts predict that Peapack-Gladstone Financial Corporation will post 2.71 EPS for the current year.

Insider Activity at Peapack-Gladstone Financial

In related news, EVP Lisa Chalkan sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $29.65, for a total transaction of $74,125.00. Following the completion of the transaction, the executive vice president owned 23,602 shares in the company, valued at $699,799.30. This represents a 9.58% 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. Also, EVP Gregory Martin Smith sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $29.15, for a total value of $93,280.00. Following the transaction, the executive vice president owned 5,427 shares of the company’s stock, valued at approximately $158,197.05. This represents a 37.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,702 shares of company stock worth $167,461 over the last quarter. 6.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peapack-Gladstone Financial

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Peapack-Gladstone Financial by 338.9% in the second quarter. CWM LLC now owns 913 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 705 shares in the last quarter. Quantbot Technologies LP raised its holdings in Peapack-Gladstone Financial by 38.1% in the first quarter. Quantbot Technologies LP now owns 8,153 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 2,251 shares in the last quarter. Mendon Capital Advisors Corp bought a new position in Peapack-Gladstone Financial in the first quarter worth $235,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Peapack-Gladstone Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,939 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 390 shares in the last quarter. Finally, Azora Capital LP bought a new position in Peapack-Gladstone Financial in the second quarter worth $300,000. Institutional investors own 72.75% 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 Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.