James R. Lamb Sells 500 Shares of Peapack-Gladstone Financial Corp (PGC) Stock

Peapack-Gladstone Financial Corp (NASDAQ:PGC) Director James R. Lamb sold 500 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $35.16, for a total transaction of $17,580.00. Following the sale, the director now directly owns 21,706 shares of the company’s stock, valued at approximately $763,182.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Peapack-Gladstone Financial Corp (NASDAQ:PGC) traded up $0.58 during trading on Friday, reaching $35.15. 169,609 shares of the company traded hands, compared to its average volume of 80,408. The company has a market cap of $641.84, a P/E ratio of 18.50 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 Corp has a one year low of $28.24 and a one year high of $37.30.

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

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

A number of institutional investors have recently modified their holdings of PGC. Citigroup Inc. boosted its holdings in Peapack-Gladstone Financial by 288.3% in the 2nd quarter. Citigroup Inc. now owns 4,349 shares of the financial services provider’s stock worth $136,000 after buying an additional 3,229 shares during the period. Voya Investment Management LLC bought a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at about $223,000. CAPROCK Group Inc. bought a new position in shares of Peapack-Gladstone Financial during the 3rd quarter valued at about $236,000. Marshall Wace North America L.P. bought a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at about $267,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Peapack-Gladstone Financial during the 2nd quarter valued at about $271,000. 69.48% of the stock is owned by institutional investors.

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

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Peapack-Gladstone Financial Company Profile

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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