Key Points
- EVP Maureen Hemhauser sold 5,272 shares on Feb. 9 at an average price of $35.59, totaling $187,630.48, per an SEC filing.
- Peapack-Gladstone beat expectations for the quarter with $0.69 EPS vs. $0.65 expected and revenue of $77.67 million vs. $73.69 million, reporting a net margin of 7.91% and ROE of 5.51%.
- The company declared a quarterly dividend of $0.05 (annualized $0.20, yield 0.6%) payable Feb. 26; shares trade around $34.68 with a market cap near $609 million and a consensus analyst rating of Moderate Buy (price target $37).
Peapack-Gladstone Financial Corporation (NASDAQ:PGC - Get Free Report) EVP Maureen Hemhauser sold 5,272 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $35.59, for a total transaction of $187,630.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Peapack-Gladstone Financial Stock Down 2.3%
Shares of NASDAQ:PGC opened at $34.68 on Wednesday. The firm has a 50 day simple moving average of $29.73 and a 200 day simple moving average of $28.04. Peapack-Gladstone Financial Corporation has a 52 week low of $23.96 and a 52 week high of $35.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market cap of $608.98 million, a PE ratio of 17.88 and a beta of 0.73.
Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $77.67 million for the quarter, compared to analysts' expectations of $73.69 million. Peapack-Gladstone Financial had a net margin of 7.91% and a return on equity of 5.51%. As a group, research analysts expect that Peapack-Gladstone Financial Corporation will post 2.71 earnings per share for the current year.
Peapack-Gladstone Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, February 12th. Peapack-Gladstone Financial's payout ratio is presently 10.31%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Zacks Research upgraded Peapack-Gladstone Financial from a "strong sell" rating to a "hold" rating in a research report on Friday, October 17th. Weiss Ratings restated a "hold (c)" rating on shares of Peapack-Gladstone Financial in a report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Peapack-Gladstone Financial from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, February 2nd. Finally, Piper Sandler increased their target price on shares of Peapack-Gladstone Financial from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.
Check Out Our Latest Stock Analysis on Peapack-Gladstone Financial
Hedge Funds Weigh In On Peapack-Gladstone Financial
Hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its position in Peapack-Gladstone Financial by 338.9% during the second quarter. CWM LLC now owns 913 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 705 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Peapack-Gladstone Financial by 431.5% during the 4th quarter. State of Alaska Department of Revenue now owns 3,768 shares of the financial services provider's stock worth $104,000 after purchasing an additional 3,059 shares during the last quarter. Aquatic Capital Management LLC raised its holdings in shares of Peapack-Gladstone Financial by 23.1% during the 3rd quarter. Aquatic Capital Management LLC now owns 5,240 shares of the financial services provider's stock valued at $145,000 after purchasing an additional 985 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Peapack-Gladstone Financial by 68.0% during the 3rd quarter. Quantbot Technologies LP now owns 7,381 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 2,987 shares in the last quarter. Finally, Inscription Capital LLC acquired a new stake in shares of Peapack-Gladstone Financial in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 72.75% of the company's stock.
About Peapack-Gladstone Financial
(
Get Free Report)
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.
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