Peapack-Gladstone Financial Corp (NASDAQ:PGC) Director James R. Lamb sold 1,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $35.30, for a total value of $35,300.00. Following the completion of the transaction, the director now directly owns 21,756 shares of the company’s stock, valued at approximately $767,986.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Peapack-Gladstone Financial Corp (PGC) traded down $0.36 during mid-day trading on Thursday, reaching $34.93. The company had a trading volume of 88,219 shares, compared to its average volume of 58,051. Peapack-Gladstone Financial Corp has a fifty-two week low of $28.24 and a fifty-two week high of $37.30. The company has a market capitalization of $635.80, a PE ratio of 18.33 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.02 and a quick ratio of 1.02.

Peapack-Gladstone Financial (NASDAQ:PGC) last announced its earnings results on Friday, October 27th. The financial services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.11. Peapack-Gladstone Financial had a return on equity of 9.54% and a net margin of 20.36%. The business had revenue of $38.82 million during the quarter.

The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Thursday, November 9th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.20 annualized dividend and a yield of 0.57%. Peapack-Gladstone Financial’s dividend payout ratio is currently 10.53%.

A number of hedge funds have recently made changes to their positions in PGC. Citigroup Inc. lifted its holdings in shares of Peapack-Gladstone Financial by 288.3% during the second quarter. Citigroup Inc. now owns 4,349 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 3,229 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Peapack-Gladstone Financial during the third quarter valued at $236,000. Voya Investment Management LLC purchased a new stake in shares of Peapack-Gladstone Financial during the second quarter valued at $223,000. Marshall Wace North America L.P. purchased a new stake in shares of Peapack-Gladstone Financial during the second quarter valued at $267,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Peapack-Gladstone Financial during the second quarter valued at $271,000. 69.48% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. BidaskClub cut Peapack-Gladstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. ValuEngine cut Peapack-Gladstone Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $38.50 target price on shares of Peapack-Gladstone Financial in a research note on Thursday, October 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Peapack-Gladstone Financial currently has an average rating of “Hold” and a consensus target price of $35.75.

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About Peapack-Gladstone Financial

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 Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.

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