Peapack-Gladstone Financial Co. (PGC) EVP Richard Debel Acquires 500 Shares

Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP Richard Debel acquired 500 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average price of $27.36 per share, for a total transaction of $13,680.00. Following the completion of the purchase, the executive vice president now owns 500 shares of the company’s stock, valued at $13,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ:PGC traded up $0.05 during mid-day trading on Tuesday, reaching $27.79. 975 shares of the stock were exchanged, compared to its average volume of 60,926. The firm has a market cap of $539.43 million, a P/E ratio of 12.03, a PEG ratio of 2.25 and a beta of 1.07. Peapack-Gladstone Financial Co. has a 1-year low of $23.96 and a 1-year high of $36.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.41.

Peapack-Gladstone Financial (NASDAQ:PGC) last released its earnings results on Friday, April 26th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $41.74 million for the quarter, compared to analyst estimates of $41.58 million. Peapack-Gladstone Financial had a return on equity of 9.73% and a net margin of 21.04%. Sell-side analysts expect that Peapack-Gladstone Financial Co. will post 2.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid 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 yield of 0.72%. Peapack-Gladstone Financial’s dividend payout ratio is currently 8.66%.

A number of institutional investors and hedge funds have recently modified their holdings of PGC. Boston Partners increased its stake in Peapack-Gladstone Financial by 46.0% in the 4th quarter. Boston Partners now owns 803,065 shares of the financial services provider’s stock worth $20,221,000 after purchasing an additional 253,125 shares in the last quarter. Basswood Capital Management L.L.C. boosted its position in Peapack-Gladstone Financial by 13.0% during the 4th quarter. Basswood Capital Management L.L.C. now owns 1,057,398 shares of the financial services provider’s stock worth $26,625,000 after acquiring an additional 121,916 shares during the period. Seidman Lawrence B acquired a new stake in Peapack-Gladstone Financial during the 4th quarter worth about $2,518,000. Dimensional Fund Advisors LP boosted its position in Peapack-Gladstone Financial by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,126,448 shares of the financial services provider’s stock worth $28,364,000 after acquiring an additional 83,659 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Peapack-Gladstone Financial by 101.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 153,018 shares of the financial services provider’s stock worth $4,012,000 after acquiring an additional 76,910 shares during the period. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Peapack-Gladstone Financial from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 28th. Zacks Investment Research lowered Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Gabelli started coverage on Peapack-Gladstone Financial in a report on Monday, February 11th. They set a “buy” rating and a $37.00 target price on the stock. Finally, FIG Partners lowered Peapack-Gladstone Financial from an “outperform” rating to a “market perform” rating in a report on Monday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Peapack-Gladstone Financial has an average rating of “Hold” and a consensus price target of $36.50.

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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.

See Also: Diversification

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